A bank was made aware of certain irregularities with some of its previously securitized mortgage loans by a third-party purchaser. The bank launched an internal review of its portfolio that identified certain eligibility and documentation issues with some of its previously securitized loans and caused it to repurchase some of those loans. Following the public disclosure of the results of its internal review, the market price for the bank’s shares declined. The plaintiff brought an action on behalf of a class of shareholders alleging that the bank made certain misrepresentations and omissions regarding its lending practices and claiming damages for the losses incurred following the bank’s disclosure of the results of its review. NERA provided an expert report explaining why the alleged misrepresentations may not have been material and the alleged corrective disclosures did not cause the financial losses incurred by members of the class.