Case: 20-222 Goldman Sachs Group v. Arkansas Teacher Retirement Sys. (2021-March-29)

Supreme Court of the United States

QUESTION PRESENTED:

1) Whether a defendant in a securities class action may rebut the presumption of classwide reliance recognized in Basic Inc. v. Levinson by pointing to the generic nature of the alleged misstatements in showing that the statements had no impact on the price of the security, even though that evidence is also relevant to the substantive element of materiality; and

(2) whether a defendant seeking to rebut the Basic presumption has only a burden of production or also the ultimate burden of persuasion.

DateProceedings and Orders (key to color coding)
Aug 21 2020 | Petition for a writ of certiorari filed. (Response due September 24, 2020)
Aug 25 2020 | Blanket Consent filed by Petitioner, Goldman Sachs Group, Inc., et al.
Sep 08 2020 | Motion to extend the time to file a response from September 24, 2020 to October 23, 2020, submitted to The Clerk.
Sep 08 2020 | Blanket Consent filed by Respondent, Arkansas Teacher Retirement System, et al.
Sep 09 2020 | Motion to extend the time to file a response is granted and the time is extended to and including October 23, 2020.
Sep 24 2020 | Brief amicus curiae of Washington Legal Foundation filed.
Sep 24 2020 | Brief amicus curiae of Retail Litigation Center, Inc. filed.
Sep 24 2020 | Brief amici curiae of Former SEC Officials and Law Professors filed.
Sep 24 2020 | Brief amicus curiae of The Society for Corporate Governance filed.
Sep 24 2020 | Brief amici curiae of Securities and Financial Markets Association, et al. filed.
Sep 24 2020 | Brief amici curiae of Financial Economists filed.
Oct 21 2020 | Brief of respondents Arkansas Teacher Retirement System, et al. in opposition filed.
Oct 21 2020 | Motion of petitioner to delay distribution of the petition for a writ of certiorari under Rule 15.5 from November 4, 2020 to November 17, 2020, submitted to The Clerk.
Oct 26 2020 | Motion to delay distribution of the petition for a writ certiorari until November 17, 2020 granted.
Nov 17 2020 | DISTRIBUTED for Conference of 12/4/2020.
Nov 17 2020 | Reply of petitioners Goldman Sachs Group, Inc., et al. filed. (Distributed)
Dec 07 2020 | DISTRIBUTED for Conference of 12/11/2020.
Dec 11 2020 | Petition GRANTED.
Jan 14 2021 | Blanket Consent filed by Respondent, Arkansas Teacher Retirement System, et al.
Jan 14 2021 | Blanket Consent filed by Petitioner, Goldman Sachs Group, Inc., et al.
Jan 25 2021 | Brief of petitioners Goldman Sachs Group, Inc., et al. filed.
Jan 25 2021 | Joint appendix (2 volumes & 1 supplemental) filed. (Statement of costs filed)
Feb 01 2021 | SET FOR ARGUMENT on Monday, March 29, 2021.
Feb 01 2021 | Brief amicus curiae of United States support of neither party filed.
Feb 01 2021 | Brief amicus curiae of Retail Litigation Center, Inc. filed.
Feb 01 2021 | Brief amici curiae of American International Group, Inc. et al. filed.
Feb 01 2021 | Brief amici curiae of Financial Economists filed.
Feb 01 2021 | Brief amicus curiae of Washington Legal Foundation filed.
Feb 01 2021 | Brief amici curiae of Securities and Financial Markets Association, et al. filed.
Feb 01 2021 | Brief amici curiae of Former SEC Officials and Law Professors filed.
Feb 01 2021 | Brief amicus curiae of The Society for Corporate Governance filed.
Feb 04 2021 | Record requested from the U.S.C.A. 2nd Circuit.
Feb 11 2021 | Record from the U.S.C.A. 2nd Circuit, along with SEALED material been electronically filed.
Feb 11 2021 | Record from the U.S.D.C. Southern District of New York is electronic and located on Pacer, with the exception of 1 Box of Sealed records.
Feb 22 2021 | CIRCULATED.
Feb 24 2021 | Brief of respondents Arkansas Teacher Retirement System, et al. filed. (Distributed)
Feb 26 2021 | Motion of the Acting Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument filed.
Mar 03 2021 | Brief amicus curiae of Better Markets, Inc. filed. (Distributed)
Mar 03 2021 |