On July 25, 2015, the Honorable Barbara M. Lynn of the United States District Court for the Northern District of Texas entered the much anticipated
The US Court of Appeals for the Eleventh Circuit recently vacated and remanded a defendant's sentence because the US District Court for the Southern
In City of Livonia Employee Retirement System v. Boeing Co., Nos. 12-1899, 12-2009 2013 WL 1197791 (7th Cir. Mar. 26, 2013), the United States Court
On May 25th, the Second Circuit vacated and remanded an order denying plaintiff's motion to file an amended securities fraud complaint.
The Eighth Court held that a person who pleads guilty to a criminal violation of Section 10(b) and Rule 10b-5 is entitled at sentencing to invoke the “no knowledge” provision of Exchange Act Section 32(a) to try and avoid a term of imprisonment.
On June 6, 2011, the U.S Supreme Court ruled that plaintiffs in securities fraud actions do not need to prove loss causation at the class certification stage.
So what does the U.S. Supreme Court ruling of June 6 vacating the Fifth Circuit’s decision affirming the denial of class certification in Erica P. John Fund, Inc. v. Halliburton Co. tell employers about what the Supreme Court might do when deciding the highly-anticipated Dukes v. Wal-Mart case?
In a unanimous opinion issued yesterday in Erica P. John Fund, Inc. v. Halliburton Co., 563 U.S. __ (2011), a securities class fraud action, the Supreme Court held that class certification had been improperly denied by the Fifth Circuit based on the absence of “loss causation.”
Yesterday, the U.S. Supreme Court unanimously rejected the Fifth Circuit’s rule that securities fraud plaintiffs are required to prove “loss causation” (i.e., that the defendant’s deceptive conduct caused their economic loss) to obtain class certification of their claim under Federal Rule of Civil Procedure 23. (Erica P. John Fund, Inc. v. Halliburton Co.)
In order to prevail in a private securities fraud action, a plaintiff must demonstrate that defendants' deceptive conduct caused his or her economic loss - a concept known as "loss causation."