Tag Archives: Class Actions
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SCOTUS Opinion: Court Fine-Tunes Review Standard For Securities Class Actions
In Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, shareholders alleged securities fraud by Goldman Sachs and sought a class action certification. The shareholders invoked a presumption under Basic Inc. v. Levinson, 485 U.S. 224 (1988), that investors are presumed to rely on the market price of a company’s security, which is presumed to reflect all of the company’s ... Read More
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Court Limits Tolling Of Statute Of Limitations In Class Actions To Future Filers
Under prior Court precedent, when a class action is filed but then fails to gain certification, the statute of limitations is tolled for those within the putative class, allowing them to intervene as individual plaintiffs in that action, or bring an individual suit. In China Agritech, Inc. v. Resh, instead of bringing a separate individual suit or intervening, the ... Read More
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Private Arbitration Agreements Preclude Employee Class Actions
In Epic Systems Corp. v. Lewis, employees sued their employer in a class action for violation of the Fair Labor Standards Act. Those employees each had signed an agreement to arbitrate employment disputes under the Federal Arbitration Act, and the employer invoked those agreements to preclude the class actions. The employees argued that the National Labor Relations Act triggered ... Read More