The Supreme Court, in a 10-page opinion written by Chief Justice John Roberts, disagreed, and reinstated the lawsuit. “The question presented in this case is whether securities fraud plaintiffs must also prove loss causation in order to obtain class certification. We hold that they need not,” he concluded.
The Supreme Court only ruled that the lawsuit can proceed as a class action, not on the merits of the lawsuit.
‘Enforcement 40’ for 2020
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