5th Circ. Rejects Halliburton Shareholder Class

Law360, New York (February 16, 2010, 6:49 PM EST) -- A federal appeals court has upheld a district court decision to deny class status to shareholders suing Halliburton Co., ruling that plaintiffs failed to meet their burden of linking the company's statements to material stock losses at the certification stage.

The U.S. Court of Appeals for the Fifth Circuit on Friday held that the previous decision from the U.S. District Court for the Northern District of Texas had properly applied Fifth Circuit precedent in shooting down the shareholder class bid made by pension investors at the...
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