|Docket No.||Op. Below||Argument||Opinion||Vote||Author||Term|
|09-1403||5th Cir. -||Apr 25, 2011||Jun 6, 2011||9-0||Roberts||OT 2010|
Holding: Securities fraud plaintiffs need not prove loss causation to obtain class certification.
Plain English Holding: Shareholders who allege that they were defrauded do not have to prove that the alleged fraud caused them to lose money to receive permission to proceed as a class action, rather than in individual lawsuits, even if they will eventually have to prove those losses at trial to win their case.
Judgment: Vacated and remanded on June 6, 2011.