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Menorah Mivtachim Insurance Ltd., et al. v. John D. Sheehan, et al.
Paid petition · United States Court of Appeals for the Second Circuit, No. 23-720 · judgment April 15, 2024
Before the decision, about 2× the 4.1% base rate. The model weighted this up for a Second Circuit decision below, a circuit split argued in the petition, and a dissent in the court below (flagged in the petition).
Questions presented
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Whether the Second Circuit Court of Appeals erred in affirming a summary judgment decision by the district court that failed to provide a reason for dismissing two of Plaintiffs’ principal claims, where the Court of Appeals also failed to provide such a reason on appeal.
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Whether disaggregation of fraud-related losses from non-fraud-related losses to prove loss causation in securities cases requires more than (1) disaggregation of the company specific impact of the news revelations from the industrywide impact of that news, and (2) clear, specific evidence that sophisticated investors found that the company specific price declines on those dates were due primarily to the revelation of fraud related news.
Counsel of record
For petitioner
Jeremy Alan Lieberman
POMERANTZ LLP
For respondent
David R. Marriott
Cravath, Swaine & Moore LLP
Case
Conference history
Distributed for 1 conference
Proceedings
- Nov 04 2024Petition DENIED.
- Oct 09 2024DISTRIBUTED for Conference of 11/1/2024.
- Oct 07 2024Reply of petitioners Menorah Mivtachim Insurance Ltd., et al. filed. (Distributed)
- Sep 20 2024Brief of respondents John D. Sheehan, et al. in opposition filed.
- Aug 19 2024Petition for a writ of certiorari filed. (Response due September 20, 2024)