Securities,
Corporate
Oct. 20, 2020
Ruling addresses ‘corrective disclosures’ in securities suits
The 9th Circuit recently issued yet another opinion seeking to clarify what constitutes a “corrective disclosure” of fraudulent activity that satisfies the loss causation element.
D. Scott Carlton
Of Counsel
Paul Hastings LLP
515 S Flower St
Los Angeles , CA 90071
Phone: 213-683-6113
Fifteen years after the U.S. Supreme Court's seminal decision in Dura Pharmaceuticals, Inc. v. Broudo, 544 U.S. 336, 347 (2005), courts continue to grapple with the pleading requirements for loss causation in securities class actions. On Oct. 8, the 9th U.S. Circuit Court of Appeals issued yet another opinion seeking to clarify what constitutes a "correc...
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