Loss-Causation Test Properly Applied In Securities Suit, Lead Plaintiffs Argue

Mealey's (September 14, 2018, 1:27 PM EDT) -- WASHINGTON, D.C. — 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 not warranted because there is no split among the circuits as to proper application of the test under the U.S. Supreme Court’s ruling in Dura Pharmaceuticals, Inc. v. Broudo, lead plaintiffs argue in a Sept. 5 respondent’s brief filed in the Supreme Court (First Solar Inc., et al. v. Mineworkers’ Pension Scheme, et al., No. 18-164, U.S. Sup.)....