SIFMA has submitted an Amicus “Friend of the Court” Brief.

Court:

U.S. Court of Appeals
(Second Circuit)

Amicus Issue:

Whether a plaintiff must use an event study to prove market efficiency for purposes of the Basic fraud-on-the-market presumption of reliance.  Whether, under Comcast, plaintiffs seeking class certification may rely upon damages models that include losses unrelated to the defendants’ alleged conduct.

Counsel of Record:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Charles E. Davidow
Marc Falcone
Robin Tarnofsky

Other Amici:

None.