Forum
U.S. Supreme Court
Case Status
Decided
Docket Number
09-1403
Term
2010 Term
Oral Argument Date
April 25, 2011
Lower Court Opinion
Questions Presented
Whether plaintiffs in putative securities fraud class actions should be required to establish loss causation in order to trigger the fraud-on-the-market presumption at the class certification stage.
Case Updates
Supreme Court holds that securities fraud plaintiffs need not prove loss causation to obtain class certification
June 06, 2011
U.S. Chamber files amicus brief
March 31, 2011
NCLC urged the Supreme Court to hold that the plaintiffs in a securities class action must prove that the defendants’ alleged misstatements caused the company’s stock value to drop. The plaintiffs allege that Halliburton made false statements about revenue from the company’s engineering and construction business, potential liability from asbestos litigation, and benefits from a company merger. In its brief, NCLC argued that if plaintiffs can’t prove loss causation, then either the alleged false statements were not material or the market was not efficient with respect to the statements. In either case, the fraud-on-the-market presumption required for such class actions would not apply.
Case Documents
- Erica P. John Fund, Inc. v. Halliburton Co., et al. (NCLC Merits Amicus Brief).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. - Eighth Circuit Opinion.pdf
- Erica P. John Fund, Inc. v. Halliburton Co. - Solicitor General Certiorari Amicus.pdf
- Erica P. John Fund, Inc. v. Halliburton Co. - Certiorari Petition.pdf
- Erica P. John Fund, Inc. v. Halliburton Co. - Brief Opposing Certiorari.pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (SG Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. - Supplemental Brief in Opposition.pdf
- Erica P. John Fund, Inc. v. Halliburton Co. - Certiorari Reply Brief_0.pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Petitioner Merits Brief).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Respondent Merits Brief).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (AARP et al Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Economists Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Law Profs Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (NCPERS Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Public Justice Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Public Pensions Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Trial Lawyers Merits Amicus Brief for Petitioner).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Accountants Merits Amicus Brief for Respondent).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (DRI Merits Amicus Brief for Respondent).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Insurers Merits Amicus Brief for Respondent).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (Law Profs Merits Amicus Brief for Respondent).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (PHARMA Merits Amicus Brief for Respondent).pdf
- Erica P. John Fund, Inc. v. Halliburton Co. (SIFMA Merits Amicus Brief for Respondent).pdf
- Erica P. John Fund, Inc. v. Halliburton Co., et al. (WLF Merits Amicus Brief for Respondent).pdf