Mealey's Litigation Procedure - Expert's Event Study Unreliable; 1st Circuit OKs Securities Summary Judgment

Mealey's Litigation Procedure - Expert's Event Study Unreliable; 1st Circuit OKs Securities Summary Judgment

BOSTON - A trial court did not err in excluding as unreliable expert testimony on loss causation on behalf of a class of plaintiff shareholders who allege that Credit Suisse Securities fraudulently withheld information from the market about the 2001 merger of America Online (AOL) and Time Warner, a First Circuit U.S. Court of Appeals panel held May 14 (Bricklayers and Trowel Trades International Pension Fund, et al. v. Credit Suisse Securities [USA] LLC, et al., No. 12-1750, 1st Cir.; 2014 U.S. App. LEXIS 8994).

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