Securities Class Actions On Life Support In High Court Case

Law360, New York (November 15, 2013, 7:03 PM EST) -- Plaintiffs attorneys sounded the alarm on Friday after the U.S. Supreme Court agreed to reconsider a 25-year-old legal theory underpinning securities class actions, warning that a ruling in favor of defendant Halliburton Co. could abolish such cases entirely.

The high court granted a petition for certiorari in Halliburton Co. et al. v. Erica P. John Fund, a class action alleging the energy giant misled investors about key information like its liability in asbestos litigation. Halliburton has asked the court to overturn its 1988 decision in Basic...
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