Justices Hint At Middle-Ground Option In Halliburton Args
By Stephanie Russell-Kraft
Law360, Washington (March 5, 2014, 7:44 PM ET) -- The U.S. Supreme Court justices Wednesday appeared open to a compromise during oral arguments on Halliburton Co.’s highly anticipated bid to overturn the fraud-on-the-market theory, with their questions suggesting a reluctance to toss the 25-year-old statute outright but signaling a willingness to make some changes.
The case, Halliburton Co. et al. v. Erica P. John Fund, stems from a longstanding investors' suit claiming the energy giant misled them about key information that, in turn, affected the market price of its stock. But Halliburton argued there was...