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Investors Must Prove Loss in Fraud Suits

Investors accusing a company of securities fraud must make a direct connection between the fraud and a subsequent decline in the company share price.

> > The Supreme Court ruling, which overturned an opinion of the U.S. Court of Appeals for the Ninth Circuit, stemmed from a lawsuit against Dura Pharmaceuticals. The suit sought damages on behalf of investors who bought Dura shares between April 15, 1997, and February 24, 1998. The share price of the company declined sharply in 1998 after earnings came in lower than expected, then again after the Food and Drug Administration failed to approve a new Dura asthma inhaler for sale.
Source: CFO


Published:2005-04-20
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