(DOWNLOAD) "Dura Pharmaceuticals" by Supreme Court of the United States # Book PDF Kindle ePub Free
eBook details
- Title: Dura Pharmaceuticals
- Author : Supreme Court of the United States
- Release Date : January 19, 2005
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 76 KB
Description
A private plaintiff who claims securities fraud must prove that the defendant's fraud caused an economic loss. 109 Stat. 747, 15 U. S. C. §78u-4(b)(4). We consider a Ninth Circuit holding that a plaintiff can satisfy this requirement -- a requirement that courts call "loss causation" -- simply by alleging in the complaint and subsequently establishing that "the price" of the security "on the date of purchase was inflated because of the misrepresentation." 339 F. 3d 933, 938 (2003) (internal quotation marks omitted). In our view, the Ninth Circuit is wrong, both in respect to what a plaintiff must prove and in respect to what the plaintiffs' complaint here must allege.