Goodwin Procter Alert: Supreme Court Ruling in Halliburton II is a Partial Win for Defendants Facing Securities Class Actions

A new client alert discusses how the U.S. Supreme Court’s decision in Halliburton Co. v. Erica P. John Fund, Inc., although it does not overturn the Court’s prior ruling in Basic v. Levinson, which created the presumption of reliance, nevertheless represents a partial win for defendants in that it allows a defendant in putative securities class action to introduce evidence at the class certification stage that the alleged misstatement or omission did not affect the price of a security.