Miranda Schiller

Weil, Gotshal & Manges LLP

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Appellate Law

Halliburton II: The Securities Fraud-On-The-Market Presumption Is Here To Stay

As anticipated, a majority of the U.S. Supreme Court declined to overrule the fraud-on-the-market presumption of Basic v. Levinson.[1] The Court rejected Halliburton's opening argument that the presumption is misplaced because today many investors do not assume market efficiency or base...

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The U.S. Supreme Court Hears Halliburton II

The Supreme Court heard argument in Halliburton II last week.[1] At issue is whether the Court should overrule the fraud on the market presumption that it adopted in its 1988 decision, Basic Inc. v. Levinson,[2] which obviated the need for plaintiffs in securities fraud class actions to...

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