Amedisys Seeks Review of Decision Saying Plaintiffs Adequately Alleged Loss Causation

Home health-care provider Amedisys Inc. March 30 asked the U.S. Supreme Court to take up a federal appeals court ruling reviving shareholder claims that the entity and certain key officials improperly inflated Medicare reimbursements (Pub. Emps. Ret. Sys. Miss. v. Amedisys Inc., U.S., 14-1200, 3/30/15).

Specifically, the defendants asked the justices to resolve a circuit split over the pleading of loss causation.

“Insisting on particularity,” they urged, “would guard against misuse of the securities laws to recover for losses caused by `other factors,’ not by an alleged fraud.”

Partial Disclosures.

In their lawsuit, the plaintiffs contended that ...