DOJ Comes To Halliburton Investors' Aid In High Court Case

Law360, New York (February 7, 2014, 2:20 PM EST) -- The U.S. Department of Justice on Wednesday argued against Halliburton Co.’s Supreme Court bid to overturn a major securities law precedent that makes it easier for harmed investors to file class action suits, saying the law, which has been upheld by Congress for more than 25 years, is “settled and sensible.”

In a 30-page amicus brief, the government took a strong position against the energy company’s petition to overturn the high court’s 1988 Basic Inc. v. Levinson decision, which established the fraud-on-the-market presumption of reliance, now...
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