11th Circuit:  Pension Fund Had Standing To Sue But Failed To Show Loss Causation

(July 12, 2023, 1:43 PM EDT) -- ATLANTA — A trial erred when it ruled that a pension fund lacked standing to bring claims against an amniotic tissue supplier and former executives under Section 10(b) of the Securities Exchange Act but properly dismissed the putative class complaint when it determined that the former stockholder failed demonstrate loss causation as the disclosures that caused stock prices to tumble occurred after the fund sold its stock, an 11th Circuit U.S. Court of Appeals panel ruled....