January 9, 2014
Topical Highlights for Securities provides summaries of significant federal and state judicial decisions and legislative and administrative activities affecting Securities law. A Westlaw subscription is required to access the documents linked from this page.
Fraud: Virginia and District of Columbia do not provide loss causation defense. Federal Housing Finance Agency v. HSBC North America Holdings Inc. 2013 WL 6588249 (S.D.N.Y.) Under Virginia and District of Columbia law as predicted by the district court, there is no loss causation defense to securities fraud claims. The loss causation defense under federal securities law does not extend to the Blue Sky Laws in Virginia and the District of Columbia. 2013 WL 6588249. (The full-text of the rest of the Topical Highlights are available within Westlaw Next, subscription required).