The U.S. Court of Appeals for the First Circuit has affirmed a lower court win for Credit Suisse First Boston in a class action in which shareholders alleged financial information was withheld relevant to AOL’s merger with Time Warner more than 13 years ago.
The district court did not abuse its discretion in precluding the plaintiffs’ expert Scott Hakala as unreliable to support the loss causation element of the plaintiffs’ securities fraud claim, Circuit Court Judge Jeffrey Howard said. Without Hakala’s testimony, the plaintiffs can’t prove securities fraud, Howard said.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
