Arab Today, arab today us high court curbs shareholder classaction suits
Last Updated : GMT 08:48:16
Arab Today, arab today
Arab Today, arab today

US high court curbs shareholder class-action suits

Arab Today, arab today

Arab Today, arab today US high court curbs shareholder class-action suits

The US supreme court
Washington - AFP

The US Supreme Court awarded a partial victory to oil services giant Halliburton by making it harder for shareholders to file a class-action lawsuit over claims of securities fraud.
But the high court stopped short of reversing its key 1988 ruling which allows such collective complaints if there is even a presumption of fraud.
Halliburton had sought the dismissal of a case brought by a group of investors who claimed they lost money when Halliburton's shares plunged, accusing the company of erroneous earnings reports.
The company also had sought unsuccessfully for the nine justices to overturn "Basic v. Levinson," the 1988 ruling in which the court set the precedent that investors in a class action suit need not show a direct link between their losses and a company's alleged misinformation.
The Supreme Court, known for a gentle approach to the business community, dismissed the class action suit but declined to overturn its 1988 ruling.
"Halliburton has not shown a 'special justification' for overruling Basic's presumption of reliance," Chief Justice John Roberts wrote in the unanimous opinion.
"The court agrees with Halliburton however that defendants must be afforded an opportunity to rebut the presumption of reliance (on misinformation) before class certification with evidence of a lack of price impact," he added.
In other words, the court allows firms accused of market fraud to include evidence, in early stages of a complaint, that alleged misrepresentations did not affect the company's stock price.
Companies fighting securities fraud lawsuits traditionally are not allowed to make such arguments about stock price until later in the legal process.
Class-action lawsuits in general are far more difficult to fight than individual cases.
According to corporate law organization Law360, the decision "will likely make it somewhat more difficult for plaintiffs to bring securities class actions, but it stopped short of closing a major door."
The Supreme Court, led by George W. Bush appointee Roberts, has not shown favor to class-action suits.
In 2011, it rejected a suit by 1.5 million workers claiming discrimination at retail giant Walmart, and then in 2012 did the same with customers of Comcast angry about rate hikes.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us high court curbs shareholder classaction suits Arab Today, arab today us high court curbs shareholder classaction suits

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us high court curbs shareholder classaction suits Arab Today, arab today us high court curbs shareholder classaction suits

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday