High Court Review Of Loss-Causation Pleading Standard In Securities Suit Denied

Mealey's (October 1, 2018, 1:52 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on Oct. 1 declined review of a Sixth Circuit U.S. Court of Appeals ruling in a securities class action lawsuit against for-profit hospital operator Community Health Systems Inc. (CHS) and certain of its executive officers in which CHS claimed that the Sixth Circuit applied a case-by-case loss-causation pleading standard that created a split among the circuits as to the proper application of the pleading standard (Community Health Systems Inc., et al. v. New York City Employees’ Retirement System, et al., No. 17-1453, U.S. Sup.)....