Lawline CLE Program: First Solar and Its Effect on Securities and Fraud Actions

New York, NY
April 30, 2018

Join Partner Carol C Villegas and Associate James Christie in a discussion which analyzes the Ninth Circuit decision in the First Solar case. This program will provide a general overview and analysis of how the decision sided with a line of cases stating that plaintiffs need only show a causal connection between the facts that were misrepresented and the resulting loss. Those cases stand in sharp contrast to a group of cases that set forth a more restrictive test that would only allow plaintiffs to recover where the market specifically learns of defendants’ precise fraudulent practices.

Learning Objectives

  • Familiarize yourself with the current landscape of loss causation law standards across the country, circuit by circuit, as it pertains to securities fraud.
  • Understand the Ninth Circuit’s decision in First Solar and what it means for both plaintiffs and defendants in securities fraud actions going forward.
  • Discuss whether the issue is ripe for Supreme Court review or whether the seminal loss causation case Dura v. Broudo remains intact.