Lead Plaintiff Failed To Plead Loss Causation In Securities Suit, Panel Rules

Lead Plaintiff Failed To Plead Loss Causation In Securities Suit, Panel Rules

NEW YORK - A federal district court did not err in dismissing a securities class action complaint against Freddie Mac for alleged federal securities law violations because the lead plaintiff failed to plead loss causation, a Second Circuit U.S. Court of Appeals panel ruled Nov. 5 (Central States, Southeast and Southwest Areas Pension Fund, et al. v. Federal Home Loan Mortgage Corp., et al., No. 12-4353, 2nd Cir.; 2013 U.S. App. LEXIS 22413).

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