Supreme Court Declines To Revisit Loss Causation

The Associated Press reports that the U.S. Supreme Court has declined to grant cert in the Lentell v. Merrill Lynch case. In Lentell, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of two research analyst cases based on the plaintiffs’ failure to adequately plead loss causation. The 10b-5 Daily’s summary of the Second Circuit decision can be found here.