Judge Approves $730M Securities Settlement With Citigroup, Shareholders

NEW YORK — (Mealey’s) A federal judge in New York on August 20 granted final approval of a securities class action settlement between investors and Citigroup Inc. and others, ruling that the terms of the settlement meet the statutory guidelines ( In re Citigroup Inc. Bond Litigation , No...

Supreme Court Refuses To Overrule Basic v. Levinson Presumption in Securities Fraud Suits

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today found that Halliburton Co. has not shown a “special justification” for overruling the reliance presumption of Basic v. Levinson , 485 US. 224 (1988) in securities fraud cases ( Halliburton Co., et al. v. Erica F. John...

Halliburton: Assessing Its Impact on Securities Class Actions

The Supreme Court declined to scrap the way in which securities class actions are typically brought in Halliburton Co. v. Erica P. John Fund, No. 13-317 (Decided June 23, 2014) [lexis.com subscribers may access Supreme Court briefs and the opinion for this case]. At the same time it may have rewritten...