US Urges High Court To Overturn Securities Fraud Ruling

Law360, New York (April 25, 2011, 7:24 PM EDT) -- An attorney for the Obama administration urged the U.S. Supreme Court on Monday to overturn a Fifth Circuit decision that she said required plaintiffs in a securities fraud class action against Halliburton Co. to prove an element of their case too early.

"The Fifth Circuit in this case said, basically, prove your whole case," Nicole A. Saharsky, assistant to the U.S. solicitor general, told the justices. "It was not satisfied with the rules as they exist, and it took the class certification stage and turned it...
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