U.S. Supreme Court takes up Goldman securities class action appeal

  • 12/12/2020
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Dec 11 (Reuters) - The U.S. Supreme Court on Friday agreed to hear Goldman Sachs Group Inc’s appeal in a securities fraud case that could redefine the ability of shareholders to pursue class actions against public companies whose stock prices fall. Goldman is appealing an April decision from the 2nd U.S. Circuit Court of Appeals in Manhattan allowing a class action accusing the bank of hiding conflicts of interest when creating risky subprime securities before the 2008 financial crisis. A decision is likely before the end of the court’s current term in June. (Reporting by Jonathan Stempel in New York; Editing by Leslie Adler)

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