Law360, New York (August 02, 2012, 1:43 PM ET) -- On July 23, the Eleventh Circuit Court of Appeals rejected an expert witness’s event study as insufficient to demonstrate loss causation at trial in a securities fraud class action. In Hubbard v. BankAtlantic Bancorp Inc., No. 11-12410 (11th Cir. July 23, 2012), the court affirmed the trial court’s decision in favor of the defendants because the plaintiffs’ expert testimony did not sufficiently isolate the effects of the alleged fraud on the company’s stock price.
The BankAtlantic case adds to a growing line of precedent establishing the...
Case Study: Hubbard V. BankAtlantic
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