Justice Roberts Holds The Key In Halliburton Arguments

By Stephanie Russell-Kraft (March 3, 2014, 8:34 PM EST) -- When the U.S. Supreme Court on Wednesday hears Halliburton Co.'s bid to overturn the 25-year-old fraud-on-the-market theory, all eyes will be on Chief Justice John Roberts, who may hold the swing vote in determining the future of securities class actions.  

The case, Halliburton Co. et al. v. Erica P. John Fund, challenges the high court's 1988 Basic v. Levinson decision establishing the fraud-on-the-market theory presumption of reliance, which assumes that, in an efficient market, misrepresentations affect a company's stock price by being carried through the market. Investors purchasing a security are presumed to have relied on that misstatement, a common...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!