Court:
U.S. Court of Appeals (Ninth Circuit)

Amicus Issue:
Whether a securities-fraud plaintiff in a fraud-on-the-market case may plead and prove the “loss causation” requirement imposed by the Private Securities Litigation Reform Act of 1995 (PSLRA), 15 U.S.C. § 78u-4(b)(4), upon satisfying the revelation-of-falsity test, or the far looser, plaintiff friendly, totality-of-the-circumstances test.

Counsel of Record:

Munger Tolles & Olson LLP
Elaine J. Goldenberg

Other Amici:
U.S. Chamber of Commerce