Case Name: China Agritech v. Resh
Court: U.S. Supreme Court Docket: 17-432
Case Result: Court unanimously held that the American Pipe Tolling doctrine does not permit the filing of a subsequent class action lawsuit if certification is denied in a timely filed class action lawsuit.
Case Name: Pension Funds v. Goldman Sachs Group
Court: U.S. Ct. App. 2d Cir. Docket: 16-250-cv
Read AARP's Amicus Brief (PDF)
Case Result: The District Court correctly held that plaintiffs need not prove the materiality of defendants’ misstatements at the class certification stage, however it is not clear whether the District Court precluded Goldman Sachs from rebutting the presumption that Goldman’s misstatements affected the price of their stock. Case remanded to clarify whether or not Goldman met their burden of proving that their misstatements did not affect the market price of their stock.
Case Name: People, State of New York v. Greenberg
Court: N.Y. Ct. App. Docket: APL-2015-00172
Case Result: The court confirmed that New York's Martin Act authorizes disgorgement and rejected the defendants' preemption challenge to a disgorgement remedy. The court also confirmed that a permanent injunction under state antifraud statutes does not require proof of irreparable harm.
Case Name: Merrill Lynch v. Manning
Court: U.S. Supreme Court Docket: 14-1132
Case Result: The decision resolves a split among the circuits regarding the breadth of Section 27 of the Securities Act. The Court ruled that a defrauded securities investor was entitled to sue in state court for state claims.
Case Name: People of the State of New York v. Greenberg
Court: N.Y. Ct. App. Docket: 401720/05
Case Result: AG allowed to seek equitable/injunctive relief against two former corporate officers for their roles in alleged fraudulent activity.
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