Whether the Second Circuit erred in affirming a summary judgment decision without providing reasons for dismissing key claims

QUESTIONS PRESENTED 1. 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. 2. 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.