Law360, New York (July 25, 2014, 10:22 AM EDT) -- In its recent, highly anticipated decision in Halliburton Co. v. Erica P. John Fund, the U.S. Supreme Court declined an invitation to overturn the so-called "fraud on the market" presumption applicable to securities class action certification. Had the court accepted that invitation, Halliburton might well have been a game changer that markedly altered the securities class action landscape — and the directors and officers liability insurance market.
Without the presumption, it would be far more difficult for Rule 10b-5 plaintiffs to obtain class certification — and therefore much more difficult for the plaintiffs bar to use the specter of massive class...
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