Goldman Sachs Denied Quick Appeal in Affiliated 401(k) Fund Suit

Goldman Sachs Group must continue defending a proposed class action challenging the affiliated mutual funds in its 401(k) plan after a Manhattan federal judge denied the bank’s request for a quick appeal of a decision allowing the case to move forward.

Goldman wanted to go directly to the U.S. Court of Appeals for the Second Circuit for a decision on two threshold issues in the Employee Retirement Income Security Act case: whether the 2019 lawsuit was untimely under the 401(k) plan’s two-year deadline for filing suit, and whether the case was blocked by plaintiff Leonid Falberg’s failure to first challenge ...