Section 11 Plaintiff Not Required to Plead or Prove Loss Causation; Court Rejects Negative Causation Defense
Commercial Case Notes / Securities

Section 11 Plaintiff Not Required to Plead or Prove Loss Causation; Court Rejects Negative Causation Defense

On November 17, 2022, the First Department issued a decision in Kohl v. Loma Negra Compania Indus. Argentina S.A., 2022 NY Slip Op. 06553, holding that a Section 11 plaintiff was not required to plead or prove loss causation and rejecting a negative causation defense . . . Continue reading Section 11 Plaintiff Not Required to Plead or Prove Loss Causation; Court Rejects Negative Causation Defense

Purchasers in Secondary Public Offerings Had Standing to Assert Securities Act Claims
Commercial Case Notes / Securities

Purchasers in Secondary Public Offerings Had Standing to Assert Securities Act Claims

On May 2, 2022, Justice Borrok of the New York County Commercial Division issued a decision in City of Warwick Mun. Empls. Pension Fund v. Restaurant Brands Intl. Inc., 2022 NY Slip Op. 50337(U), holding that purchasers in secondary public offerings had standing to assert Securities Act claims . . . Continue reading Purchasers in Secondary Public Offerings Had Standing to Assert Securities Act Claims