Amici Ask 2nd Circuit To Endorse Price Impact Approach In Securities Suit

Mealey's (September 6, 2016, 2:07 PM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals should rule in favor of shareholders in an appeal of a securities class action lawsuit ruling and should require defendants to “show the absence of price impact by a preponderance of evidence” in rebutting a Basic Inc. v. Levinson presumption, a group of securities law professors argue in a Sept. 1 amicus curiae brief (In re Petrobas Securities Litigation, No. 16-1914, 2nd Cir.).

(Law professors’ amicus brief available. Document #57-160919-508B.)

Lead plaintiff Universities Superannuation Scheme Ltd....
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