Post-Halliburton Costs May Drive Shift In D&O Coverage
By Stephanie Russell-Kraft (June 24, 2014, 7:16 PM EDT) -- In the wake of the U.S. Supreme Court's Monday decision giving defendants in securities class actions a fighting chance at defeating class certification, one directors and officers insurance carrier is attempting to quell fears about the one thing securities attorneys say they expect to increase the most: upfront costs.
In its Halliburton Co. et al. v. Erica P. John Fund ruling, the high court declined to overturn the longstanding fraud-on-the-market presumption of reliance, under which it is assumed that a company's public misstatement will be reflected in its stock price. But the court did grant the defendants the opportunity to rebut...
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