Erica P. John Fund, Inc. v.
Halliburton Co, No. 09-1403 has the potential to rewrite the standards for
certifying a class in securities fraud actions. The High Court heard argument
on April 25, 2011 and should hand down its decision prior to the end of the
term in June.
The issue the Court...
by Jonathan Eisenberg
Plaintiffs in securities fraud
cases rely on the fraud-on-the-market presumption of reliance to obtain class
certification. As the Supreme Court recently stated in Amgen Inc. v.
Connecticut Retirement Plans, No. 11-1085, slip op. at 5-6 (Feb. 27, 2013)