Petitioners: Government’s Amicus Brief In Securities Suit Misses The Mark

Mealey's (June 17, 2019, 9:57 AM EDT) -- WASHINGTON, D.C. — The U.S. government has “sidestep[ped]” the question presented in an appeal 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 by trying to dispel any ideas of a circuit split described in a petition for writ of certiorari filed by defendants in the action in its brief as amicus curiae, the defendants argue in a May 28 supplemental brief filed in the U.S. Supreme Court (First Solar Inc., et al. v. Mineworkers’ Pension Scheme, et al., No. 18-164, U.S. Sup.)....