ARKANSAS TEACHER RETIREMENT v. GOLDMAN SACHS GROUP

Docket No. 18-3667 August Term 2018.

955 F.3d 254 (2020)

ARKANSAS TEACHER RETIREMENT SYSTEM, West Virginia Investment Management Board, Plumbers and Pipefitters Pension Group, Plaintiffs-Appellees, v. Pension Funds, Ilene Richman, Individually and on behalf of all others similarly situated, Plaintiffs, Howard Sorkin, Individually and on behalf of all others similarly situated, Tikva Bochner, On behalf of herself and all others similarly situated, Dr. Ehsan Afshani, Louis Gold, Individually and on behalf of all others similarly situated, Thomas Draft, individually and on behalf of all others similarly situated, Consolidated Plaintiffs, v. GOLDMAN SACHS GROUP, INC., Lloyd C. Blankfein, David A. Viniar, Gary D. Cohn, Defendants-Appellants, Sarah E. Smith, Consolidated Defendant.

United States Court of Appeals, Second Circuit.

Decided: April 7, 2020.


Attorney(s) appearing for the Case

ROBERT J. GIUFFRA, JR. ( Richard H. Klapper , David M.J. Rein , Benjamin R. Walker , Jacob E. Cohen , on the brief), Sullivan & Cromwell LLP, New York, NY, for Defendants-Appellants.

THOMAS C. GOLDSTEIN , Goldstein & Russell, P.C., Bethesda, MD ( Kevin K. Russell , Goldstein & Russell, P.C., Bethesda, MD; Spencer A. Burkholz , Joseph D. Daley , Robbins Geller Rudman & Dowd LLP, San Diego, CA; Thomas A. Dubbs , James W. Johnson , Michael H. Rogers , Irina Vasilchenko , Labatow Sucharow LLP, New York, NY, on the brief), for Plaintiffs-Appellees.

Lewis J. Liman , Cleary Gottlieb Steen & Hamilton LLP, New York, NY ( Jared M. Gerber , Lina Bensman , Cleary Gottlieb Steen & Hamilton LLP, New York, NY; Steven P. Lehotsky , U.S. Chamber Litigation Center, Washington, D.C., on the brief), for Amicus Curiae Chamber of Commerce of the United States of America in Support of Defendants-Appellants.

Todd G. Cosenza ( Maxwell A. Bryer , on the brief), Willkie Farr & Gallagher LLP, New York, NY, for Amici Curiae Former United States Securities and Exchange Commission Officials and Securities Scholars in Support of Defendants-Appellants.

Michael C. Keats , Fried, Frank, Harris, Shriver & Jacobson LLP, New York, NY, for Amici Curiae Economic Scholars in Support of Defendants-Appellants.

Jonathan K. Youngwood , Simpson Thacher & Bartlett LLP, New York, NY ( Craig S. Waldman , Joshua C. Polster , Daniel H. Owsley , Simpson Thacher & Bartlett LLP, New York, NY; Ira D. Hammerman , Kevin M. Carroll , Securities Industry and Financial Markets Association, Washington, D.C.; Gregg Rozansky , Bank Policy Institute, Washington, D.C., on the brief), for Amici Curiae Securities Industry and Financial Markets Association and Bank Policy Institute in Support of Defendants-Appellants.

Deepak Gupta , Gupta Wessler PLLC, Washington, D.C. ( Gregory A. Beck , Gupta Wessler PLLC, Washington, D.C.; Salvatore J. Graziano , Jai K. Chandrasekhar , Bernstein Litowitz Berger & Grossmann LLP, New York, NY, on the brief), for Amici Curiae Securities Law Scholars in Support of Plaintiffs-Appellees.

Marc I. Gross , Pomerantz LLP, New York, NY ( Jeremy A. Lieberman , Pomerantz LLP, New York, NY; Ernest A. Young , Apex, NC, on the brief), for Amici Curiae Procedure Scholars in Support of Plaintiffs-Appellees.

J. Carl Cecere , Cecere PC, Dallas, TX ( David Kessler , Darren Check , Kessler Topaz Meltzer & Check LLP, Radnor, PA, on the brief), for Amicus Curiae National Conference on Public Employee Retirement Systems in Support of Plaintiffs-Appellees.

Before: WESLEY, CHIN, and SULLIVAN, Circuit Judges.


This is the second time this securities class action has arrived at our doorstep on a Rule 23(f) appeal. The first time we took the case, the United States District Court for the Southern District of New York (Crotty, J.) had certified under Rule 23(b)(3) a shareholder class suing Goldman Sachs Group, Inc. and a handful...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases