No. 20-222
Goldman Sachs Group, Inc., et al. v. Arkansas Teacher Retirement System, et al.
Key Terms:
ERISA Securities ClassAction
ERISA Securities ClassAction
Latest Conference:
2020-12-11
(distributed 2 times)
Question Presented (AI Summary)
Whether a defendant in a securities class action may rebut the presumption of classwide reliance
Question Presented (OCR Extract)
QUESTIONS PRESENTED 1. Whether a defendant in a securities class action may rebut the presumption of classwide reliance recognized in Basic Inc. v. Levinson, 485 U.S. 224 (1988), by pointing to the generic nature of the alleged misstatements in showing that the statements had no impact on the price of the security, even though that evidence is also relevant to the substantive element of materiality. 2. Whether a defendant seeking to rebut the Basic presumption has only a burden of production or also the ultimate burden of persuasion. (I)
Docket Entries
2023-01-10
Record returned to the U.S.D.C. - SDNY (1 box of sealed materials).
2021-07-23
JUDGMENT ISSUED.
2021-06-21
Judgment VACATED and case REMANDED. Barrett, J., delivered the <a href = 'https://www.supremecourt.gov/opinions/20pdf/20-222_2c83.pdf'>opinion</a> of the Court, in which Roberts, C. J., and Breyer, Kagan, and Kavanaugh, JJ., joined in full; in which Thomas, Alito, and Gorsuch, JJ., joined as to Parts I and II–A; and in which Sotomayor, J., joined as to Parts I, II–A–1, and II–B. Sotomayor, J., filed an opinion concurring in part and dissenting in part. Gorsuch, J., filed an opinion concurring in part and dissenting in part, in which Thomas and Alito, JJ., joined.
2021-03-29
Argued. For petitioners: Kannon K. Shanmugam, Washington, D. C. For United States, as amicus curiae: Sopan Joshi, Assistant to the Solicitor General, Department of Justice, Washington, D. C. For respondents: Thomas C. Goldstein, Bethesda, Md.
2021-03-19
Reply of petitioners Goldman Sachs Group, Inc., et al. filed. (Distributed)
2021-03-08
Motion of the Acting Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument GRANTED.
2021-03-03
Brief amici curiae of Financial Economists filed. (Distributed)
2021-03-03
Brief amicus curiae of Better Markets, Inc. filed. (Distributed)
2021-03-03
Brief amici curiae of Former SEC Officials filed. (Distributed)
2021-03-03
Brief amicus curiae of The North American Securities Administrators Association, Inc. filed. (Distributed)
2021-03-03
Brief amici curiae of Evidence Law Professors filed. (Distributed)
2021-03-03
Brief amici curiae of Institutional Investors filed. (Distributed)
2021-03-03
Brief amici curiae of Professors of Securities Law and Complex Litigation filed. (Distributed)
2021-03-03
Brief amici curiae of State of New Mexico et al. filed. (Distributed)
2021-03-03
Brief amici curiae of Public Citizen and Public Citizen Foundation filed. (Distributed)
2021-03-03
Brief amicus curiae of National Association of Shareholder and Consumer Attorneys filed. (Distributed)
2021-02-26
Motion of the Acting Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument filed.
2021-02-24
Brief of respondents Arkansas Teacher Retirement System, et al. filed. (Distributed)
2021-02-22
CIRCULATED.
2021-02-11
Record from the U.S.D.C. Southern District of New York is electronic and located on Pacer, with the exception of 1 Box of Sealed records.
2021-02-11
Record from the U.S.C.A. 2nd Circuit, along with SEALED material been electronically filed.
2021-02-04
Record requested from the U.S.C.A. 2nd Circuit.
2021-02-01
Brief amici curiae of Financial Economists filed.
2021-02-01
Brief amicus curiae of The Society for Corporate Governance filed.
2021-02-01
Brief amici curiae of Former SEC Officials and Law Professors filed.
2021-02-01
Brief amici curiae of Securities and Financial Markets Association, et al. filed.
2021-02-01
Brief amicus curiae of Washington Legal Foundation filed.
2021-02-01
Brief amici curiae of American International Group, Inc. et al. filed.
2021-02-01
Brief amicus curiae of Retail Litigation Center, Inc. filed.
2021-02-01
Brief amicus curiae of United States support of neither party filed.
2021-02-01
SET FOR ARGUMENT on Monday, March 29, 2021.
2021-01-25
Joint appendix (2 volumes & 1 supplemental) filed. (Statement of costs filed)
2021-01-25
Brief of petitioners Goldman Sachs Group, Inc., et al. filed.
2021-01-14
Blanket Consent filed by Petitioner, Goldman Sachs Group, Inc., et al.
2021-01-14
Blanket Consent filed by Respondent, Arkansas Teacher Retirement System, et al.
2020-12-11
Petition GRANTED.
2020-12-07
DISTRIBUTED for Conference of 12/11/2020.
2020-11-17
Reply of petitioners Goldman Sachs Group, Inc., et al. filed. (Distributed)
2020-11-17
DISTRIBUTED for Conference of 12/4/2020.
2020-10-26
Motion to delay distribution of the petition for a writ certiorari until November 17, 2020 granted.
2020-10-21
Motion of petitioner to delay distribution of the petition for a writ of certiorari under Rule 15.5 from November 4, 2020 to November 17, 2020, submitted to The Clerk.
2020-10-21
Brief of respondents Arkansas Teacher Retirement System, et al. in opposition filed.
2020-09-24
Brief amici curiae of Financial Economists filed.
2020-09-24
Brief amici curiae of Securities and Financial Markets Association, et al. filed.
2020-09-24
Brief amicus curiae of The Society for Corporate Governance filed.
2020-09-24
Brief amici curiae of Former SEC Officials and Law Professors filed.
2020-09-24
Brief amicus curiae of Retail Litigation Center, Inc. filed.
2020-09-24
Brief amicus curiae of Washington Legal Foundation filed.
2020-09-09
Motion to extend the time to file a response is granted and the time is extended to and including October 23, 2020.
2020-09-08
Blanket Consent filed by Respondent, Arkansas Teacher Retirement System, et al.
2020-09-08
Motion to extend the time to file a response from September 24, 2020 to October 23, 2020, submitted to The Clerk.
2020-08-25
Blanket Consent filed by Petitioner, Goldman Sachs Group, Inc., et al.
2020-08-21
Petition for a writ of certiorari filed. (Response due September 24, 2020)
Attorneys
American International Group, Inc. And Chubb Group Holdings Inc.
Gregory Silbert — Weil Gotshal & Manges LLP, Amicus
Gregory Silbert — Weil Gotshal & Manges LLP, Amicus
Arkansas Teacher Retirement System, et al.
Thomas C. Goldstein — Goldstein & Russell, P.C., Respondent
Thomas C. Goldstein — Goldstein & Russell, P.C., Respondent
Better Markets, Inc.
Evidence Law Professors
Rachel Sarah Bloomekatz — Bloomekatz Law LLC, Amicus
Rachel Sarah Bloomekatz — Bloomekatz Law LLC, Amicus
Financial Economists
Financial Economists (Bottomside)
Former SEC Officials
Carolyn E. Shapiro — Schnapper-Casteras PLLC, Amicus
Carolyn E. Shapiro — Schnapper-Casteras PLLC, Amicus
Former SEC Officials and Law Professors
Goldman Sachs Group, Inc., et al.
Institutional Investors
Joseph Carl Cecere — Cecere, PC, Amicus
Joseph Carl Cecere — Cecere, PC, Amicus
National Association of Shareholder and Consumer Attorneys
Ernest A. Young — Amicus
Ernest A. Young — Amicus
Professors of Securities Law and Complex Litigation
Deepak Gupta — Gupta Wessler PLLC, Amicus
Deepak Gupta — Gupta Wessler PLLC, Amicus
Public Citizen and Public Citizen Foundation
Wendy Liu — Public Citizen Litigation Group, Amicus
Wendy Liu — Public Citizen Litigation Group, Amicus
Retail Litigation Center, Inc.
Susan E. Hurd — Alston & Bird LLP, Amicus
Susan E. Hurd — Alston & Bird LLP, Amicus
Securities and Financial Markets Association, et al.
State of New Mexico, et al.
The North American Securities Administrators Association, Inc.
The Society for Corporate Governance
Jeremy Charles Marwell — Vinson & Elkins LLP, Amicus
Jeremy Charles Marwell — Vinson & Elkins LLP, Amicus
United States
Brian H. Fletcher — Acting Solicitor General, Amicus
Brian H. Fletcher — Acting Solicitor General, Amicus
Washington Legal Foundation
Lyle Roberts — Shearman & Sterling LLP, Amicus
Lyle Roberts — Shearman & Sterling LLP, Amicus