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Class Actions

Reliance remains, but rebuttable

The plaintiff alleges Halliburton Co. made misrepresentations on three separate issues, and suffered a drop in stock price when the truth about those matters was disclosed. (Bloomberg News file photo)

In Halliburton Co. v. Erica P. John Fund, Inc.,the U.S. Supreme Court declinined to overrule the holding in Basic Inc. v. Levinson, 485 U.S. 224 (1988), which allows investors in securities-fraud cases to bring class actions based on a fraud-on-the-market theory of reliance.

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Class actions: Enter the consumer lawyer

gavel credit

Three milestones in the development of consumer protection litigation are most prominent in its rise: 1) changes in legislation; 2) the adaptation of consumer protection litigation as class action lawsuits; and 3) diversification of private class action practices.

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