Media Coverage
Source: Wall Street Journal
Media Coverage
11.15.13
The U.S. Supreme Court has agreed to review a case involving Halliburton Co. to determine whether a 1988 court decision concerning securities fraud should be overruled. In Basic Inc. v. Levinson, the high court held that investors in securities-fraud cases did not have to prove that they relied upon any misleading statements by a company.
Bruce Ericson, managing partner of Pillsbury’s San Francisco office and co-leader of the firm’s securities litigation team, said that if the court overrules its previous decision, it “would be a game-changer.”
“It would make it much more difficult, and potentially impossible, to certify a class and maintain a class action,” he added.