Halliburton: Do Plaintiffs Have A Fix In Affiliated Ute?

Law360, New York (February 13, 2014, 2:07 PM EST) -- Even the most experienced securities defense attorneys regularly summarize Rule 10b-5(b) as creating a cause of action for “false or misleading statements and omissions of material fact.” Courts — including the U.S. Supreme Court — routinely use the same shorthand.

When I was a new securities litigation defense attorney, one of the first things that I learned was the importance of adding the rest of the sentence: “false or misleading statements and omissions of material fact necessary to make statements made not misleading.”

One of the...
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