January 31, 2018 / 10:12 PM / 8 months ago

9th Circuit sets proximate cause standard in securities fraud cases

The 9th U.S. Circuit Court of Appeals has adopted a “proximate cause” standard to assess whether a defendant’s alleged fraud under the Securities Exchange Act of 1934 caused investor losses.

Wednesday’s unsigned decision was a defeat for First Solar Inc, which is defending against claims that the solar panel maker inflated its stock price by concealing design defects and reporting misleading financials over nearly four years.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2EtZpjZ

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