Halliburton Will Raise Cost Of Securities Class Actions

Law360, New York (July 2, 2014, 10:12 AM EDT) -- Last week, in a securities fraud suit brought against Halliburton, the U.S. Supreme Court rejected an invitation to reform the legal framework that underlies nearly all securities class actions. Instead, the court erected an additional hurdle in these cases that will ensure securities fraud class actions become still more expensive to litigate — and, yet, no more closely tied to the question of whether fraud actually occurred.

The court made it clear that it expected Congress to make any substantive reform to securities class actions, despite the fact that the court created the current securities class action regime out of whole...

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