Halliburton Co. v. Erica P. John Fund, Inc.
2014 United States Supreme Court case / From Wikipedia, the free encyclopedia
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Halliburton Co. v. Erica P. John Fund, Inc., 573 U.S. 258 (2014), is a United States Supreme Court case regarding class action certification for a securities fraud claim. Under the fraud-on-the-market theory, the Court had to inquire as to if markets are economically efficient. The Court presumed they are.
Quick Facts Halliburton Co. v. Erica P. John Fund, Inc., Argued March 5, 2014 Decided June 23, 2014 ...
Halliburton Co. v. Erica P. John Fund, Inc. | |
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Argued March 5, 2014 Decided June 23, 2014 | |
Full case name | Halliburton Co., et al. v. Erica P. John Fund, Inc., fka Archdiocese of Milwaukee Supporting Fund, Inc. |
Docket no. | 13-317 |
Citations | 573 U.S. 258 (more) 134 S. Ct. 2398; 189 L. Ed. 2d 339 |
Argument | Oral argument |
Opinion announcement | Opinion announcement |
Case history | |
Prior | Erica P. John Fund, Inc. v. Halliburton Co., 131 S. Ct. 2179, 563 U.S., 180 L. Ed. 2d 24 (2011). |
Holding | |
Securities fraud defendants must be afforded an opportunity to rebut the presumption of reliance before class certification with evidence of a lack of price impact. | |
Court membership | |
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Case opinions | |
Majority | Roberts, joined by Kennedy, Ginsburg, Breyer, Sotomayor, Kagan |
Concurrence | Ginsburg, joined by Breyer, Sotomayor |
Concurrence | Thomas (in judgment), joined by Scalia, Alito |
Laws applied | |
Securities Exchange Act of 1934, Rule 10b-5 |
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