Supreme Court Issues Opinion in Dura Pharmaceuticals on Pleading Loss Causation

The Supreme Court issued its opinion yesterday in Dura Pharmaceuticals v. Broudo, unanimously reversing the Ninth Circuit and requiring something more than notice pleading on the issue of loss causation -- no great surprise there.  An excellent post on The 10b-5 Daily (Lyle Roberts of Wilson Sonsini) thoroughly discusses the case.  We white collar types continue to await the Court's decision in Paquantino v. United States on the scope of the mail fraud statute when the victim is a foreign government being deprived of taxes, which was argued Nov. 9.  In addition, for those with an interest in international criminal law, Small v. United States concerning the effect of a foreign conviction remains undecided and was argued on Nov. 3.  See Ellen Podgor's earlier post here on what may be holding up the decisions in these cases. (ph)