General Proximate Cause Test Found To Be Proper Test For Pleading Loss Causation

Mealey's (February 5, 2018, 2:19 PM EST) -- SAN FRANCISCO — A federal district court’s application of a general proximate cause test was 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 current and former executive officers, a Ninth Circuit U.S. Court of Appeals panel ruled Jan. 31 in affirming the lower court’s ruling and clarifying the lower court’s question on appeal (Mineworkers’ Pension Scheme v. First Solar Inc., No. 15-17282, 9th Cir., 2018 U.S. App. LEXIS 2450)....