Loss Causation Requires Valuation of Thinly Traded Bond on Purchase Date

Business Valuation UpdateVol. 17 No. 9
Legal and Court Case Update
September 2011
securities litigation

In re Nuveen Funds/City of Alameda
2011 WL 1842819 (N.D. Cal.)
May 16, 2011
US
Federal Court
California
United States District Court
David Sosa (plaintiffs)
Illston

Summary

Court dismisses securities fraud complaint regarding municipal bonds due to lack of expert loss causation evidence, i.e., comparing value of underlying collateral on purchase date to subsequent liquidation sale value.

See Also

In re Nuveen Funds/City of Alameda

Court dismisses securities fraud complaint regarding municipal bonds due to lack of expert loss causation evidence; i.e., comparing value of underlying collateral on purchase date to subsequent liquidation sale value.