News & Analysis as of

Fraud-on-the-Market FRCP 23(b)(3)

A&O Shearman

Northern District Of Illinois Certifies Class In A Commodities Market Manipulation Suit, Holding That Proposed Class Made A...

A&O Shearman on

On January 3, 2020, Judge Edmond E. Chang of the United States District Court for the Northern District of Illinois Eastern Division granted Plaintiffs’ motion to certify a class of investors in an action alleging that two...more

A&O Shearman

District Of New Jersey Finds Defendants Failed To Rebut Fraud-On-The-Market Presumption And Certifies Class Action Against...

A&O Shearman on

On February 28, 2018, Judge Peter Sheridan of the United States District Court for the District of New Jersey granted class certification in an action against Aeterna Zentaris, Inc. and certain of its executives. Li V....more

Carlton Fields

SeaWorld Shareholders See Red After World Sees Blackfish

Carlton Fields on

A California District Court granted certification to a group of SeaWorld investors in a shareholder securities fraud case following the release of the documentary “Blackfish.” ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Second Circuit Clarifies Class Certification Requirements in Significant Securities Class Action Decision

On July 7, 2017, the U.S. Court of Appeals for the Second Circuit offered significant guidance regarding the circuit’s class certification requirements in In re Petrobras Securities, No. 16-1914. In addressing an issue of...more

Carlton Fields

Third Circuit Rejects Inflated-Value Theory of Damages, Declines to Certify Law School Tuition Class

Carlton Fields on

The Third Circuit recently affirmed the denial of class certification in a suit alleging that a law school made misrepresentations about the employment status of its graduates, thereby inducing students to pay inflated...more

Sheppard Mullin Richter & Hampton LLP

Eighth Circuit Reverses District Court for Ignoring Price-Impact Evidence That Rebutted the Fraud-on-the-Market Presumption and...

In IBEW Local 98 Pension Fund v. Best Buy Co., Inc., No. 14-3178 (8th Cir. Apr. 12, 2016), the United States Court of Appeals for the Eighth Circuit held, in a Rule 10b-5 securities fraud action, that the district court...more

BakerHostetler

Eighth Circuit Becomes First Appellate Court to Apply Halliburton II Price Impact Analysis

BakerHostetler on

The Eighth Circuit has become the first federal circuit court to apply the Supreme Court’s Halliburton Co. v. Erica P. John Fund, Inc., 134 S. Ct. 2398 (2014) (Halliburton II) decision. Relying on Halliburton II, the Eighth...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Insights Conversations: Securities Litigation"

From the impacts of U.S. Supreme Court Omnicare and Halliburton cases to the uptick in Securities Act class actions, litigation partners Scott Musoff and Susan Saltzstein discuss the latest securities litigation developments....more

Benesch

Can Absence of Price Impact Defeat Class Certification? Supreme Court to Decide

Benesch on

Can a corporation defending against a stock fraud class action defeat class certification by using evidence that its actions had no effect on the stock’s price? In Halliburton Co. v. Erica P. John Fund, Inc., Docket No....more

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