Goldman Sachs Gets Support to Rehear Investor Class Approval

Former SEC officials, securities professors, economic scholars, and business groups asked for leave to support Goldman Sachs Group Inc. in its bid to convince the Second Circuit to rehear a decision affirming certification of an investor class.

Goldman investors won appellate approval in April to proceed as a class in a suit accusing the investment bank of misleading them about conflicts of interests surrounding certain collateralized debt obligation transactions. The bank last week asked the U.S. Court of Appeals for the Second Circuit to rehear the case.

The groups, including the Securities Industry and Financial Markets Association, the Bank Policy ...