U.S. Supreme Court
Jul. 2, 2014
Roberts puts securities class action hyperbole to bed in Halliburton
Securities laws exist largely to promote honest and transparent market information and investor confidence; they are not bad for business or society. By Mark I. Labaton
Overruling precedents can, of course, be seismic. But affirming long-established case law, as the U.S. Supreme Court did last week in Halliburton v. Erica P. John Fund, 2014 DJDAR 8004 (June 23, 2014), can have far-reaching consequences as well.
In Halliburton, the Supreme Court addressed the high-stakes question of whether to overrule, or substantially modify, the fraud-on-the market presumption of reliance that had be...
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