Petition of the day
on Jan 26, 2017 at 11:22 pm
The petition of the day is:
16-685
Disclosure: Goldstein & Russell, P.C., whose attorneys contribute to this blog in various capacities, is among the counsel on an amicus brief in support of the petitioners in this case.
Issues: (1) Whether a finding of actual wrongdoing is a legal prerequisite to an investor pleading loss causation based on the announcement of a government investigation into the defendant’s fraudulent practices; and (2) whether an investor who invokes a fraud-on-the-market presumption of reliance is barred from pleading loss causation based on a corrective disclosure that analyzes information already in the public domain but not widely known to the market.
