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Is the "Fraud on the Market Theory" About to Get Dumped?

A petition for a writ of certiorari filed last month in the U.S. Supreme Court in connection with the long-running Halliburton securities class action lawsuit – which has been up to the Supreme Court once already – takes aim at one of the critical components in the securities plaintiffs’...

Dump "Fraud on the Market" Yet Preserve Securities Plaintiffs' Ability to Establish Reliance?

Since the U.S. Supreme Court agreed to revisit the “fraud on the market” theory by granting cert in the Halliburton case a few weeks ago, many commentators (including this blog ) have considered whether the Court might wind up taking an intermediate position that addresses criticisms of the...

Even if Fraud on the Market is Dumped, Don’t Cut Back on D&O Insurance

It is hard to prognosticate the outcome of the Halliburton case now before the U.S. Supreme Court. But while we can’t be sure what the outcome will be, we can start to think about what will happen if the Supreme Court overturns Basic. In an interesting February 7, 2014 post on the Harvard Law School...

Halliburton and The Future of Securities Class Actions: Part I

On Wednesday, March 5, 2014 the Supreme Court will hear argument in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 [ an enhanced version of the Fifth Circuit opinion appealed from is available to lexis.com subscribers ] . The case has the potential to rewrite the rules for how securities class...

Halliburton And the Future of Securities Class Actions: Part II

On Wednesday, March 5, 2014 the Supreme Court will hear argument in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 [ an enhanced version of the Fifth Circuit opinion appealed from is available to lexis.com subscribers ] . The case has the potential to rewrite the rules for how securities class...

Halliburton and the Future of Securities Class Actions: Part III

On March 5, the Supreme Court heard argument in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 [ an enhanced version of the Fifth Circuit opinion appealed from is available to lexis.com subscribers ]. The case has the potential to rewrite the rules for how securities class actions are brought...