Tag: Basic

The predicate for many securities class actions is the fraud-on-the-market theory, adopted by the Supreme Court in Basic, Inc. v. Levinson, 485 U.S. 224 (1988). There the Court held that a securities law plaintiff could invoke a rebuttable presumption of …

Class Certification: Halliburton II and Basic Read More »

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The Supreme Court declined to overrule Basic, but modified current practice by permitting evidence of price impact at certification

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