US Urges High Court To Tackle Loss Causation Rule

Law360, New York (December 6, 2010, 6:29 PM EST) -- The U.S. solicitor general has recommended that the U.S. Supreme Court take up a suit against Halliburton Co. that grapples with the question of whether plaintiffs in putative securities fraud class actions should be required to establish loss causation in order to trigger the fraud-on-the-market presumption at the class certification stage.

In a brief filed Friday in the high court, acting Solicitor General Neal Kumar Katyal said that the approach of the U.S. Court of Appeals for the Fifth Circuit in its February ruling in Erica...
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