Goldman Wins Class-Action Appeal for Investor Fraud Suit
(Bloomberg) -- Goldman Sachs Group Inc. won an appeal of class-action status for a case that accuses the company of misleading shareholders by masking conflicts of interest in mortgage-backed securities it sold.
The federal court of appeals in New York Thursday threw out a lower-court ruling allowing the case to proceed as a class action on behalf of shareholders. The court said it was following a June ruling by the U.S. Supreme Court in the case.
The case is Arkansas Teacher Retirement System v. Goldman Sachs, 18-03667, Second U.S. Circuit Court of Appeals (Manhattan).
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