Investors Argue No Circuit Split Exists For Loss-Causation Pleading Standard

Mealey's (July 12, 2018, 11:30 AM EDT) -- WASHINGTON, D.C. — No split among the federal circuit courts exists as to the proper application of the loss-causation pleading standard, and as a result, review of a Sixth Circuit U.S. Court of Appeals ruling that shareholders of a for-profit hospital operator pleaded loss causation in making their federal securities law claims is not warranted, the shareholders argue in a July 9 opposition brief filed in the U.S. Supreme Court (Community Health Systems Inc., et al. v. New York City Employees’ Retirement System, et al., No. 17-1453, U.S. Sup.)....