Applying Comcast To Securities Cases: A Plaintiff's View

Law360, New York (February 24, 2014, 10:39 PM EST) -- In Erica P. John Fund Inc. v. Halliburton Co., 131 S. Ct. 2179 (2011), the U.S. Supreme Court addressed the following question: “[W]hether securities fraud plaintiffs must ... prove loss causation in order to obtain class certification.” 131 S.Ct. at 2183. The court answered in the negative, announcing: “We hold that they need not.” In reversing the Fifth Circuit, the court stated, on at least three separate occasions, that the circuit court “erred by requiring proof of loss causation for class certification.”[1]

In light of the...
To view the full article, register now.