On June 21, 2021, the U.S. Supreme Court issued its opinion in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System,1 vacating the 2nd Circuit’s previous decision and remanding for further consideration as to...more
7/29/2021
/ Arkansas Teacher Retirement System v Goldman Sachs Group ,
Burden of Persuasion ,
Class Action ,
Class Certification ,
Conflicts of Interest ,
Fraud-on-the-Market ,
Goldman Sachs ,
Investors ,
Presumption of Reliance ,
SCOTUS ,
Securities Exchange Act ,
Securities Litigation ,
Shareholders
On March 29, 2021, the U.S. Supreme Court heard oral argument in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System. In this closely watched case, the Court is expected to clarify the evidentiary burden for...more
The U.S. Supreme Court granted review last week in TransUnion LLC v. Ramirez, which presents the question of whether Article III or Rule 23 of the Federal Rules of Civil Procedure permits a damages class action where most...more
12/23/2020
/ Article III ,
Class Certification ,
Class Members ,
Class Representatives ,
Fair Credit Reporting Act (FCRA) ,
FRCP 23 ,
Injury-in-Fact ,
Office of Foreign Assets Control (OFAC) ,
Petition for Writ of Certiorari ,
Standing ,
TransUnion
- In a matter of first impression within the 9th Circuit, the court held that each member of a certified class must have Article III standing in order to recover individual monetary damages at trial.
- Those class members...more
3/9/2020
/ Appeals ,
Article III ,
Class Action ,
Class Certification ,
Class Members ,
Credit Reports ,
Fair Credit Reporting Act (FCRA) ,
Injury-in-Fact ,
Office of Foreign Assets Control (OFAC) ,
Punitive Damages ,
Standing ,
Statutory Damages ,
Statutory Violations ,
TransUnion
• En banc 9th Circuit affirmed a $210 million settlement in multidistrict litigation against Hyundai and Kia relating to their alleged misrepresentations about the fuel efficiency of their vehicles, reversing the decision of...more
• The United States Supreme Court held that Federal Rule of Civil Procedure 23(f)’s 14-day deadline for parties to seek permission for interlocutory review of class certification decisions is not subject to equitable...more
3/5/2019
/ Class Action ,
Class Certification ,
Collective Actions ,
Decertification ,
Equitable Tolling ,
Federal Rules of Appellate Procedure ,
Filing Deadlines ,
FRCP 23(f) ,
Interlocutory Appeals ,
Leave to Appeal ,
Motion for Reconsideration ,
Nutraceutical Corp v Lambert ,
SCOTUS
• The U.S. Supreme Court held that the tolling provisions established in American Pipe & Construction Co. v. Utah, 414 U.S. 538 (1974) apply to only individual claims, not to successive class actions.
• The Court’s...more
6/13/2018
/ Appeals ,
China Agritech Inc v Resh ,
Class Action ,
Class Certification ,
Class Members ,
Equitable Tolling ,
FRCP 23 ,
Putative Class Actions ,
Reversal ,
SCOTUS ,
Securities Fraud ,
Statute of Limitations ,
Subsequent Litigation
• The U.S. Supreme Court granted a certiorari petition filed by China Agritech from the 9th Circuit’s decision in Resh v. China Agritech, Inc., 857 F.3d 994 (9th Cir. 2017). The Court will clarify whether its landmark ruling...more
12/14/2017
/ American Pipe & Construction Co. v. Utah ,
Class Action ,
Class Certification ,
Class Members ,
Equitable Tolling ,
Petition for Writ of Certiorari ,
Putative Class Actions ,
Reversal ,
SCOTUS ,
Securities Exchange Act ,
Securities Fraud ,
Statute of Limitations
On July 7, in In re Petrobras Securities, the 2nd Circuit declined to adopt an independent “administrative feasibility” requirement for class certification under Rule 23. In so holding, the 2nd Circuit joined the 6th, 7th,...more
7/14/2017
/ Administrative Feasibility ,
Ascertainable Class ,
Class Action ,
Class Certification ,
Class Members ,
Corporate Counsel ,
FRCP 23 ,
FRCP 23(b)(3) ,
Petrobras ,
Predominance Requirement ,
Securities Litigation ,
Split of Authority
Facts -
On June 12, 2017, in Microsoft Corporation v. Baker, the U.S. Supreme Court unanimously held that federal courts of appeals lack jurisdiction to review orders striking class allegations after the named plaintiffs...more
6/16/2017
/ Appellate Jurisdiction ,
Article III ,
Class Action ,
Class Certification ,
Federal Rules of Civil Procedure ,
Final Judgment ,
FRCP 23 ,
FRCP 23(f) ,
Microsoft v Baker ,
Putative Class Actions ,
SCOTUS ,
Voluntary Dismissals ,
Xbox
Key Points -
- The U.S. Court of Appeals for the 9th Circuit joined the 6th, 7th, and 8th Circuits in declining to adopt an “administrative feasibility” requirement for plaintiffs seeking to certify a class under...more
Key Points
- The U.S. Court of Appeals for the 2nd Circuit recently held that district courts have the power to decertify a class even after a jury verdict in favor of the class...more
7/22/2016
/ Abuse of Discretion ,
Class Certification ,
Corporate Counsel ,
Decertify ,
Federal Rules of Civil Procedure ,
FRCP 23 ,
Late Fees ,
Loan Servicer ,
Mortgages ,
Privity of Contract ,
The Money Store