News & Events

News & Events

7.1.2014

Greene Quoted in Law360 Article About Recent Court Decision in Halliburton Co. v. Erica P. John Fund, Inc.

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Lane Powell Shareholder Doug Greene was quoted in a June 23 Law360 article titled “High Court Sends Securities Class Actions Back to Basic(s).” The article discussed the U.S. Supreme Court’s recent decision declining to overturn Basic v. Levinson, and giving defendants a clearer chance to rebut the fraud-on-the-market presumption of reliance earlier in securities class action litigation.

While the ruling may only concern a small subset of securities class actions — those SEC Rule 10b-5 cases where price impact is disputed — it will streamline the practical application of Basic, according to Doug Greene of Lane Powell PC.

“The court’s decision will result in more meaningful class certification litigation, even if it ultimately doesn’t result in a greater number of cases being dismissed,” he said.

Read the article (PDF).