Loss Due to Lack of Loss Causation Wins Appeal; Error Caused Ruling, Fifth Circuit Says

Originally published by Barry Barnett .

Plaintiffs win a rare Fifth Circuit victory

If you represent a client who bought a stock that shed value more and more as bad news about the company trickled out, you can take courage from a rare pro-plaintiff decision by the Fifth Circuit. The court reversed the dismissal of a securities fraud class action on a tricky issue in such cases — the element of “loss causation”.

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