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Second Circuit – Securities fraud: Huey v. Anavex Life Sciences Corp.
Daily Record Staff//July 2, 2026//
Second Circuit – Securities fraud: Huey v. Anavex Life Sciences Corp.
Daily Record Staff//July 2, 2026//
Listen to this articleUnited States Court of Appeals for the Second Circuit
Securities fraud — Misrepresentation — Sufficiency of complaint
Huey v. Anavex Life Sciences Corp.
25-1752
Judges Jacobs, Calabresi, and Nathan
Background: The plaintiff appealed from the dismissal of her securities fraud complaint. She held shares in the defendant, a publicly traded company. She filed a putative class action alleging misrepresentation pointing to the increase in the defendant’s share price following disclosure correcting the misrepresentation.
Ruling: The Second Circuit affirmed. The court held that she did not sufficiently plead to loss causation given the initial increase and delayed decline which moved in tandem with the entire market.
Adam M. Apton, of Levi & Korsinsky, for the plaintiff-appellant; Stephen G. Topatzes, of K&L Gates, for the defendants-appellees.
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