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'Basic' Standard Applies To Analyst Reports: 2nd Circ.

By Christine Caulfield ( October 1, 2008, 12:00 AM EDT) -- Investors of a reorganized telecommunications company won a victory Tuesday when the Second Circuit ruled that plaintiffs alleging securities fraud against research analysts need not make a heightened evidentiary showing to take advantage of the fraud-on-the-market presumption established 20 years ago by the Supreme Court....

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