In Erica P. John Fund, Inc. v. Halliburton Co. , 1
the U.S. Supreme Court reversed a Fifth Circuit decision that required a
putative class of investors to prove loss causation in order to attain class
certification. The Court rejected defendant Halliburton's argument that the
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...