Second Circuit Reiterates: Defendants Must Satisfy Burden of Persuasion Through a Preponderance of the Evidence to Rebut Basic Presumption in Securities Fraud Class Actions

The Second Circuit, in keeping with its recent decision in Waggoner v. Barclays, reaffirmed that defendants must satisfy the burden of persuasion by a preponderance of the evidence to rebut the presumption established by the Supreme Court in Basic, Inc. v. Levinson. The plaintiffs-appellees, who had acquired shares of Goldman Sachs stock between 2007 and […]