Court Opinion

ID: 9461273
Source: CourtListenerOpinion
Date Created: 2023-08-04 22:10:16.820275+00
Date Added: 2024-06-11T17:36:58.639884
License: Public Domain

FRANKEL, District Judge
(concurring) :
I concur in the result and in most of the court’s opinion. With all deference, however, I am unable to join completely in the opinion because of those portions which employ the concepts of “loss causation” and “transaction causation.” While these terms have had some scholarly currency, as the majority shows, and while they may prove eventually to be useful, I am not convinced at this time that the Circuit ought to be committed to their employment or to their still uncertain implications.
The appeal before us arises on a bare pleading. The terminological questions explored by the majority have not been briefed or argued. It does not appear that the issues as the parties presented them require such exploration.
I am not prepared to find these labels either useful or harmful. I conclude only that, being unnecessary, they ought not to enter into an opinion on the limited questions before the court.