United States Ninth Circuit

In this securities fraud class action, dismissal for failure to state a claim is affirmed, where: 1) the announcement of an investigation, standing alone and without any disclosure of actual wrongdoing, is insufficient to establish loss causation; and 2) plaintiff could not establish loss causation because he had not attempted to correlate his losses to anything other than the announcement of an internal investigation.

Appellate Information

• Decided 09/11/2014
• Published 09/11/2014

Judges

• Rice

Court

• United States Ninth Circuit

Counsel