Plaintiffs Are Tripped Up by Loss Causation

Law360, New York (March 20, 2008, 12:00 AM EDT) -- Without question, the last year has been a tough one for securities fraud plaintiffs.

The U.S. Supreme Court (1) found that the securities laws preempted antitrust suits in Credit Suisse Securities v. Billing, 127 S. Ct. 2383 (June 18, 2007); (2) allowed defendants to attack plaintiffs’ pleadings of allegations of scienter (defendants’ state of mind) by presenting opposing inferences in Tellabs Inc. v. Makor Issues & Rights Ltd., 127 S. Ct. 2499 (June 21, 2007); and (3) tossed out plaintiffs’ efforts to use a “scheme liability”...
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