Goldman Investors Urge Justices to Uphold Class in Fraud Case

The U.S. Supreme Court should uphold a Second Circuit ruling allowing Goldman Sachs Group Inc. investors to proceed as a class in a case alleging the bank misled them about conflicts of interest, the investor brief said.

The investment bank argues that the Second Circuit “erroneously held” that Goldman couldn’t “point to the generic nature of the alleged misstatements to show the absence of price impact” and defeat the classwide reliance presumption.

But the appellate court’s 2019 judgment was “already the rule” in securities cases, the investors responded Wednesday.

The Supreme Court granted Goldman’s petition for review in...