Halliburton High Court Case To Test Plaintiffs Attys' Moxie

Law360, New York (November 20, 2013, 8:06 PM EST) -- The plaintiffs bar faces a new test of its resilience as the U.S. Supreme Court considers whether to overturn a 1988 ruling that ushered in a golden era for securities class actions, attorneys say.

In Halliburton Co. v. Erica P. John Fund, a suit claiming the energy giant misled investors about key information, the court will decide whether to overrule or modify the controversial fraud-on-the-market theory. Established in a 1988 ruling, the theory assumes that investors who purchase stock on an efficient market rely on a...
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