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KOHL v. LOMA NEGRA COMPAÑIA INDUS. ARGENTINA S.A.

Index No. 653114/18. Appeal No. 16703. Case No. 2022-00008.

210 A.D.3d 533 (2022)

179 N.Y.S.3d 40

2022 NY Slip Op 06553

Dan Kohl, Respondent, v. Loma Negra Compañia Industrial Argentina Sociedad Anónima et al., Appellants, et al., Defendants.

Appellate Division of the Supreme Court of New York, First Department.

Decided November 17, 2022.

Attorney(s) appearing for the Case

White & Case LLP, New York (Glenn M. Kurtz of counsel), for Loma Negra CompaÑia Industrial Argentina Sociedad AnÓnima, appellant.

Shearman & Sterling LLP, New York (Adam S. Hakki of counsel), for Bradesco Securities, Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co., LLC, appellants.

Levi & Korsinsky, LLP, New York (Shannon L. Hopkins of counsel), for respondent.

Concur—Kapnick, J.P., Webber, Gesmer, Singh, JJ.

Order, Supreme Court, New York County (Jennifer G. Schecter, J.), entered on or about December 2, 2021, which granted plaintiff's motion for class certification and denied defendants' cross motion for summary judgment dismissing the complaint, unanimously affirmed, with costs.

Defendants failed to establish their entitlement to summary judgment, as they did not sustain their burden of proof on the issue of negative loss causation—that is, the principle that...

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