1.0CLP Bloghttps://clpblog.citizen.orgBrian Wolfmanrich600338<blockquote class="wp-embedded-content" data-secret="geEvVH1aRf"><a href="https://clpblog.citizen.org/supreme-court-grants-review-to-reconsider-fraud-on-the-market-theory-of-reliance-in-class-action-sec/">Supreme Court grants review to reconsider “fraud-on-the-market” theory of reliance in class-action securities litigation</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://clpblog.citizen.org/supreme-court-grants-review-to-reconsider-fraud-on-the-market-theory-of-reliance-in-class-action-sec/embed/#?secret=geEvVH1aRf" width="600" height="338" title="“Supreme Court grants review to reconsider “fraud-on-the-market” theory of reliance in class-action securities litigation” — CLP Blog" data-secret="geEvVH1aRf" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); /* ]]> */ </script> The Supreme Court has granted review in yet another class action, and this one has large implications for the future of securities-fraud litigation. In Haliburton v. Erica P. John Fund, the Court will decide whether to overrule or substantially modify the rule in Basic, Inc. v. Levinson (1988), which adopted the "fraud-on-the-market" theory of reliance [...]