Securities & Exchange Commission (SEC)

Appellate Law

Kristin Feitzinger, Amir Rozen | Cornerstone Research

On June 23, 2014, the U.S. Supreme Court handed down its long-awaited decision in Halliburton Co. v. Erica P. John Fund.[1] The ruling affirms Basic Inc. v. Levinson,[2] but finds that defendants can introduce a direct price impact analysis prior to class certification. In Basic the...

Appellate Law

Miranda Schiller, David Schwartz | Weil, Gotshal & Manges LLP

As anticipated, a majority of the U.S. Supreme Court declined to overrule the fraud-on-the-market presumption of Basic v. Levinson.[1] The Court rejected Halliburton's opening argument that the presumption is misplaced because today many investors do not assume market efficiency or base...

Securities & Exchange Commission (SEC)

Lizanne Thomas | Jones Day

The 2014 proxy season reintroduced many traditional corporate governance topics to corporate ballots, and also generated new calls for reforms to the shareholder proposal process generally. In addition, activist investors continued their robust efforts to change corporate strategies and...