News & Analysis as of

Securities Class Actions Receive Increased Scrutiny: District Court Applies “Stringent Standards” Of Dukes And Comcast To Deny...

The United States District Court for the Northern District of Texas recently denied certification of a putative securities law class after finding that plaintiff failed to put forth actual facts showing adequacy and...more

Back to Basic? Big Changes Could Be Coming to a Securities Class Action Near You

Earlier this month, the Supreme Court heard the highly-anticipated oral argument in Hallburton Co. v. Erica P. John Fund, Inc. Prior to the argument, there was a growing consensus that the Court was likely going to overturn...more

In Case You Missed It - Interesting Items for Corporate Counsel (Cumulative) - March 13, 2014

The U.S. Supreme Court recently ruled in Lawson v. FMR LLC that the whistleblower provisions of the Sarbanes-Oxley Act protect employees who work for contractors and subcontractors of public companies and not just employees...more

The Supreme Court Signals It May Level the Playing Field in Securities Class Actions

During last week’s oral argument in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 (“Halliburton II”), the Supreme Court justices sent a strong signal that they would not overrule Basic, but may seek to strengthen...more

Justices Signal Interest In Middle-Ground Approach To Adjusting Fraud-On-The-Market Presumption

On March 5, 2014, the U.S. Supreme Court heard oral argument in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317. In this closely watched case, Halliburton has asked the Court to overrule the fraud-on-the-market...more

Supreme Court Reconsiders Fraud on the Market

The Supreme Court heard oral argument last week in Halliburton Co. v. Erica P. John Fund, Inc., a case that asks the Court to overrule or sharply limit the “fraud on the market” theory adopted by the Court 25 years ago in...more

Halliburton Co. v. Erica P. John Fund, Inc.: Assessing Possible Modifications To Basic And The Fraud-On-The-Market Theory

Securities class action lawsuits have long been a fact of life for public companies traded on a U.S. exchange. Since 1997, plaintiffs have filed more than 3,200 securities fraud lawsuits that have resulted in approximately...more

Supreme Court Hears Argument in Potentially Game-Changing Securities Law Case

On March 5, 2014, the U.S. Supreme Court heard argument in Halliburton v. Erica P. John Fund. The outcome of this case may change the landscape for securities class actions. The issue in Halliburton is whether the fraud on...more

Supreme Court Does Not Seem Inclined to Overrule the Presumption of Reliance; But Changes for How Reliance Is Handled at Class...

The Supreme Court heard arguments yesterday in Halliburton Co. v. Erica P. John Fund, Inc. One issue presented in the case is whether the court should overrule or substantially modify the holding of Basic Inc. v. Levinson, a...more

Halliburton And the Future of Securities Class Actions: Part II

On Wednesday, March 5, 2014 the Supreme Court heard arguments in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317. The case has the potential to rewrite the rules for how securities class actions are brought. This...more

Green v. CIBC: Court Of Appeal Revisits Limitation Period For Secondary Market Securities Class Actions And Limits Common Law...

Overview - The Court of Appeal for Ontario’s recent decision in Green v. Canadian Imperial Bank of Commerce(“Green”) is significant in two respects. First, the Court clarified the limitation period applicable to...more

Class Certification Denied? Courts Denied Class Certification in Fewer Than 24 Securities Actions since 2002; Halliburton...

There is no shortage of arguments from the defense bar in Halliburton v. Erica P. John Fund (No. 13-317), a Supreme Court case that may be the most significant securities decision to come out of the Court in decades. At issue...more

Halliburton: Is the Fix as Basic as Alleging Omissions under Affiliated Ute? Or Is That Too Cute?

Even the most experienced securities defense attorneys regularly summarize Rule 10b-5(b) as creating a cause of action for “false or misleading statements and omissions of material fact.” Courts –including the Supreme Court...more

Halliburton’s Brief Asks The U.S. Supreme Court To Overturn The Not So Brief 25-Year-Old Fraud-On-The-Market Presumption

As discussed in a previous December 3, 2013 post, the U.S. Supreme Court has agreed to hear Halliburton’s pitch to overrule or modify the decades old fraud-on-the-market presumption established in Basic Inc. v. Levinson, 485...more

U.S. Supreme Court to Reconsider "Fraud-on-the-Market" Presumption in Securities Fraud Class Actions

On November 15, 2013, the U.S. Supreme Court announced that it would revisit the "fraud-on-the-market" presumption that it adopted 25 years ago, which substantially expanded securities fraud class actions. The appeal in which...more

Will Securities Fraud Class Actions Fade Into History?

The U.S. Supreme Court’s grant of certiorari in Halliburton Co. v. Erica P. John Fund, No. 13-317, suggests a dramatic change in private securities litigation is possible. On November 15, 2013, the Court accepted...more

Supreme Court to Revisit the Plaintiff-Friendly “Fraud-on-the-Market” Presumption in Securities Fraud Class Actions

The U.S. Supreme Court is set to decide a case this term that could significantly affect the viability of securities fraud class actions against public companies. The case, Halliburton Co. v. Erica P. John Fund, Inc., will...more

Is the United States Supreme Court Poised to Overrule or Modify Basic Inc. v. Levinson?

On November 15, 2013, the U.S. Supreme Court granted a petition for writ of certiorari to Petitioner Halliburton Company (“Halliburton”) in the case entitled Halliburton Co. v. Erica P. John Fund, Inc., f/k/a Archdiocese of...more

Not So Basic Supreme Court to Revisit the Fraud-­on-­the Market Presumption of Reliance

Parties to pending securities fraud class actions may adjust litigation strategies, even before the Court revisits Basic’s presumption of investor reliance. On Friday, November 15, 2013, the Supreme Court granted...more

SCOTUS Agrees To Hear Challenge To Securities Class Actions “Fraud On The Market” Theory

On November 15, the U.S. Supreme Court agreed to hear a challenge to the long-standing “fraud-on-the-market” theory, on which securities class actions often are based. Halliburton v. Erica P. John Fund Inc., No. 13-317, 2013...more

"Inside the Courts: Supreme Court to Hear Class Action Certification Appeal in Halliburton"

Today, in a case that could have significant implications for putative federal securities class actions, the Supreme Court granted certiorari in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317. In its petition for...more

Recent Supreme Court Rulings on Class Actions

The Supreme Court continued to focus on class action litigation during this term, handing down a number of significant rulings relating to jurisdiction, class certification, and arbitration of putative class claims. The many...more

Basic Is Anything But: Courts Continue to Wrangle with the Fraud-on-the-Market Presumption

It has been 25 years since the Supreme Court announced the fraud-on-the-market presumption of reliance in Basic Inc. v. Levinson, 485 U.S. 224 (1988). Yet many courts, including the Supreme Court itself, continue to struggle...more

Behrend and Amgen: The Supreme Court Sends Mixed Signals About Reaching the Merits at the Class Certification Stage

The U.S. Supreme Court has sent mixed signals this term regarding when courts can address merits issues at the class certification stage. On March 27, 2013, in Comcast Corp. v. Behrend, the Court reaffirmed that lower courts...more

Second Take on Amgen: Defense Arguments Largely Intact, Even in Overruled Circuits

In our post in the immediate wake of the Supreme Court’s decision in Amgen Inc. v. Connecticut Retirement Plans, we concluded that rather than being a new threat to the defense of securities class actions, Amgen basically...more

48 Results
|
View per page
Page: of 2