Class Action News

Goldman Loses Bid to Overturn CDO Case Class Certification (3)

April 7, 2020, 1:39 PMUpdated: April 7, 2020, 6:17 PM

Goldman Sachs Group Inc. lost its bid to undo class certification in a suit accusing it of misleading investors about conflicts of interests surrounding certain collateralized debt obligation transactions, the Second Circuit said Tuesday.

The investment bank argued that the investors hadn’t shown the alleged misstatements had an impact on Goldman’s stock price. The investors said the district court properly certified the class based on their price-maintenance argument, and the U.S. Court of Appeals for the Second Circuit sided with them in a 2-1 decision.

“We intend to ask the full Second Circuit to review this decision,” a Goldman...

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