Victory for Institutional and Individual Investors
Securities Fraud: Krislov firm achieves victory from the Third Circuit Court of Appeals for institutional and individual investors.
In an important decision for investor protection and recoveries, the United States Court of Appeals for the Third Circuit affirms certification of class to proceed for DVI stock and notes purchasers against auditors and Directors and Officers; rejects Fifth Circuit’s loss causation requirement at class certification stage; affirms the District Court's findings that DVI's stock and senior notes traded in efficient markets to benefit from the fraud-on-the-market theory; and, affirmed the adequacy of institutional investor plaintiffs to serve as class representatives despite challenges based on their access to company management and trading strategies.
Read the Third Circuit's Opinion
Read the Press Release and discussion of the Decision