Author: Mas Harntha

Supreme Court Remands Case to 2d Circuit to Consider Whether “Generic” Statements Had Price Impact

​On June 21, 2021, the Supreme Court vacated certification of an investor class action against Goldman Sachs, remanding the case to the lower courts to consider whether a company's alleged misstatements are too “generic" to be relied upon by an entire class of investors. The court also held, however, that the burden is on the defendant to disprove that the alleged misstatements affected the stock price.