Case Study: Rosado V. China North East Petroleum

Law360, New York (September 13, 2012, 2:00 PM EDT) -- In early August, a panel of the United States Court of Appeals for the Second Circuit settled an important issue dealing with the measure of damages in a private securities case under Section 10 of the Securities Exchange Act of 1934. The court also clarified often loosely used concepts in approaching damage questions. Rosado v. China North East Petroleum Holdings Ltd., No. 11-4544-cv, (2d Cir. Aug. 1, 2012).

Specifically, the court held that “the fact that the price of the stock recovered soon after the price...
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