(The news featured
below is a selection from the news covered in Federal Securities Law Reporter,
which is distributed to subscribers of Federal
Securities Law Reporter.)
Loss Causation Not Shown
A district court (ED Pa) found that a complaint
insufficiently demonstrated that a company's alleged misrepresentations
concerning its revenues and internal controls was causally linked to investors'
losses. The complaint did not show loss causation because the investors did not
demonstrate that the market actually learned about the inadequacies of the
accounting procedures and controls.
Marsden v. Select Medical Corp. (ED Pa) is reported at
¶94,361.
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