Case Study: Archdiocese Of Milwaukee V. Halliburton

Law360, New York (May 9, 2011, 6:55 PM EDT) -- The U.S. Supreme Court heard arguments recently to consider the extent to which, if at all, the issue of loss causation must be considered by the court in determining whether to grant class certification in a securities fraud class action.

In Archdiocese of Milwaukee Supporting Fund Inc. v. Halliburton, 597 F.3d 330 (5th Cir. 2010), the Fifth Circuit held that to invoke the fraud-on-the-market presumption needed to obtain class certification in a securities fraud class action, the plaintiff must prove loss causation by a preponderance of...
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