High Court To Hear Appeal In Securities Suit Challenging Basic Ruling

High Court To Hear Appeal In Securities Suit Challenging Basic Ruling

WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 15 agreed to hear an appeal of a securities class action lawsuit seeking determination of whether the Supreme Court's ruling in Basic Inc. v. Levinson should be modified with regard to its presumption of reliance coming from the fraud-on-the-market theory (Halliburton Co., et al. v. Erica F. John Fund Inc., No. 13-317 U.S. Sup.).

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