Mealey's Banking & Finance - Supreme Court Refuses To Overrule Basic Presumption In Securities Fraud Suits

WASHINGTON, D.C. - The U.S. Supreme Court on June 23 found that Halliburton Co. has not shown a "special justification" for overruling the reliance presumption of Basic v. Levinson (485 US. 224, U.S. Sup. [1988]) in securities fraud cases (Halliburton Co., et al. v. Erica F. John Fund Inc., No. 13-317, U.S. Sup.; 2014 U.S. LEXIS 4305).

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