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Loss Causation: A Significant New Burden

Law360 (April 7, 2008, 12:00 AM EDT) -- Two decisions issued recently by the U.S. Court of Appeals for the Fifth Circuit and a third issued by the U.S. District Court for the Southern District of New York have imposed a significant new burden on plaintiffs seeking class certification in securities fraud cases.

Those decisions, Luskin v. Intervoice-Brite Inc.,[1] Oscar Private Equity Investments v. Allegiance Telecom Inc.,[2] and In re Credit Suisse First Boston Corp. (Lantronix, Inc.) Analyst Securities Litigation,[3] require plaintiffs attempting to satisfy the “predominance” requirement of Federal Rule of Civil Procedure...
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