Law360 has released its report on "Securities Litigation to Watch in 2020" and included commentary from McKool Smith Principal Gayle Klein. She spoke about Arkansas Teacher Retirement System et al. v. Goldman Sachs Group Inc., in the U.S. Court of Appeals for the Second Circuit. Attorneys are closely monitoring this dispute between Goldman Sachs and its investors over the breadth of the price maintenance theory.
Gayle stated "the question presented by the case is whether certain statements amount to "fraud on the market" — the theory that defendants can be held liable for statements that are alleged to have affected share price because investors are presumed to have relied upon those statements — and when a defendant can present evidence to challenge that presumption."
The full article can be found here.