5th Circ. Snubs Halliburton Bid To Nix Investor Class Cert.

Law360, Houston (May 1, 2013, 10:26 PM EDT) -- The Fifth Circuit on Wednesday denied Halliburton Co.'s bid to escape securities class claims, ruling the energy giant couldn't use evidence undercutting the investors' claim that misrepresentations about asbestos litigation affected the company’s stock price to defeat class certification. 

The Fifth Circuit found the energy giant could not refute the investors’ argument that misleading statements about the company’s possible asbestos liability created a presumption of reliance — a required element of class certification — with proof that the statements had a negligible effect on the company’s stock...
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