The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Sat, 04 Apr 2026 11:30:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Supreme Court Upholds Fraud-On-The-Market Presumption in Halliburton – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Supreme Court Upholds Fraud-On-The-Market Presumption in Halliburton https://corpgov.law.harvard.edu/2014/06/24/supreme-court-upholds-fraud-on-the-market-presumption-in-halliburton/?utm_source=rss&utm_medium=rss&utm_campaign=supreme-court-upholds-fraud-on-the-market-presumption-in-halliburton https://corpgov.law.harvard.edu/2014/06/24/supreme-court-upholds-fraud-on-the-market-presumption-in-halliburton/#comments Tue, 24 Jun 2014 20:00:07 +0000 http://blogs.law.harvard.edu/corpgov/?p=64286?d=20141215153523EST Posted by Yaron Nili, Co-editor, HLS Forum on Corporate Governance and Financial Regulation, on Tuesday, June 24, 2014
Editor's Note:

The following post comes to us from Wilson Sonsini Goodrich & Rosati, P.C. and is based on a WSGR alert by Douglas Clark and Ignacio Salceda. The Supreme Court’s reconsideration of Basic and related legal questions are analyzed in detail in a Harvard Law School Discussion Paper by Professors Lucian Bebchuk and Allen Ferrell, Rethinking Basic, that has been published in the May 2014 issue of The Business Lawyer, and discussed earlier on the Forum here and here.

On June 23, 2014, the United States Supreme Court issued its much-anticipated decision in Halliburton Co. v. Erica P. John Fund, Inc. Halliburton called into question the very foundation of a securities class action—the presumption of class-wide reliance. A unanimous Court answered the question today, and the presumption of reliance lives. The Court’s decision may, however, have given defendants new opportunities to rebut the presumption in the earlier stages of a case.

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