Goldman Sachs Group Inc. investors will have to wait after the Second Circuit put its ruling in favor of class certification on hold while the investment bank prepares to ask the U.S. Supreme Court to review the case.
Investors who accused Goldman of misleading them about conflicts of interest connected to certain subprime mortgage-backed collateralized debt obligations won affirmation of their class status at the U.S. Court of Appeals for the Second Circuit in April. The bank lost a bid for en banc review, then asked the court to stay the mandate pending its filing of a petition for certiorari. ...
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