WASHINGTON, D.C. - The U.S. Supreme Court on March 5 heard oral arguments in a securities class action lawsuit seeking a determination as to whether the Supreme Court should overturn or limit its holding in Basic Inc. v. Levinson (485 U.S. 224 $(1988$)) (Halliburton Co., et al. v. Erica F. John Fund Inc., No. 13-317 U.S. Sup.).