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Text of Second Circuit Summary Order: Plaintiff Lacked Standing in Stock Drop Case Absent Showing of Specific and Particular Loss (PDF)
U.S. Court of Appeals for the Second Circuit 
May 13, 2015 "Taveras attempts to demonstrate injury-in-fact by showing diminution in the value of [the assets of the Savings and Investment Plan (SIP)] generally. However, SIP participants, such as Taveras, directed their own investment choices from a menu of options selected by SIP's fiduciaries. It was possible that the SIP lost value while Taveras's individual account did not.... Failure to allege individualized harm goes directly to constitutional standing and is fatal to Taveras's Amended Complaint." [Taveras v. UBS, No. 14-4009 (2d Cir. Apr 30, 2015; unpub.)] MORE >> |
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