10th Circ. Clarifies Loss Causation Standard

Law360, New York (February 19, 2009, 12:00 AM EST) -- Reinforcing the strict standard outlined in a recent U.S. Supreme Court ruling for proving loss causation in a securities fraud suit, a federal appeals court has affirmed a lower court ruling rejecting the testimony of a key expert for the plaintiffs and granting summary judgment in favor of the energy firm Williams Cos. Inc.

The appeals court decision further clarifies the pleading requirements for loss causation articulated in the unanimous 2005 Supreme Court decision in Dura Pharmaceuticals Inc. v. Broudo, which held that an inflated purchase...
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