TITLE

Supreme Court Eases Research Burden

AUTHOR(S)
Friedlander, Josh
PUB. DATE
May 2005
SOURCE
Investment Dealers' Digest;5/2/2005, Vol. 71 Issue 17, p11
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports on the unanimous decision of the U.S. Supreme Court that investors seeking damage due to securities fraud would have to demonstrate that their losses were directly caused by corporate misrepresentation. Allegation of investors that Dura Pharmaceuticals Inc. made false statements about profits and future products in 1997 and 1998; Release of the ruling in the wake of other conflicting court decisions that sought to establish a common hurdle to determine whether investors suffered specific harm in their investment decisions from bogus research; Potential of investors who can show causality to fight successfully for restitution.
ACCESSION #
16960885

 

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