WASHINGTON — A frustrated Supreme Court heard arguments on Monday in a securities fraud class-action case against Goldman Sachs, with several justices indicating puzzlement about what they were meant to do in light of both parties seeming to agree about the governing legal standard. Two justices, using the same metaphor, said they saw little daylight between the two sides. The case was brought by pension funds that said they had lost as much as $13 billion as a consequence of what they called false statements about the investment bank’s sales of complex debt instruments before the 2008 financial crisis. The contested statements were abstract and general. Goldman has denied deceiving investors.

Source: New York Times March 29, 2021 21:11 UTC