High Court May Adopt Law Professors' Brief In Halliburton

Law360, New York (March 28, 2014, 9:18 PM EDT) -- On March 5, 2014, the U.S. Supreme Court heard oral argument in one of the most closely watched securities cases of the year, Halliburton Co. v. Erica P. John Fund, in which the high court is revisiting the fraud-on-the-market presumption of reliance adopted during the late 1980s in Basic Inc. v. Levinson.

While many thought the Supreme Court would overrule Basic and strike down the fraud-on-the-market presumption, especially after several of the justices expressed skepticism of the economic theories upon which it is based in Amgen...
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