The latest from Texas Lawyer
| Investors Win Again at High Court, But Don't Call It a Trend |
| Removing a significant hurdle for plaintiffs in securities class actions, the U.S. Supreme Court ruled on June 6 that investors need not prove at the class certification stage that a company?s deceptive conduct caused their economic losses. The court struck down a ruling by the 5th U.S. Circuit Court of Appeals that said so-called "loss causation" had to be proven before investors can proceed as a class. The ruling in Erica P. John Fund Co. v. Halliburton was unanimous and came just six weeks after the case was argued. |
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