High Court Review Of Loss Causation Pleading Standard Ruling Sought

(August 21, 2018, 8:47 AM EDT) -- WASHINGTON, D.C. — U.S. Supreme Court review of a Ninth Circuit U.S. Court of Appeals panel’s determination that a general proximate cause test is the proper test for determining loss causation in a securities class action lawsuit brought by shareholders against a solar energy company and certain of its senior executives is warranted because the appellate court’s ruling has expanded a three-way split among the circuits, the defendants argue in an Aug. 6 petition for writ of certiorari (First Solar Inc., et al. v. Mineworkers’ Pension Scheme, et al., No. 18-164, U.S. Sup., 2018 U.S. S. Ct. Briefs LEXIS 2840)....