Halliburton Co. v. Erica P. John Fund, Inc.
| Halliburton Co. v. Erica P. John Fund, Inc. | |
|---|---|
| Argued March 5, 2014 Decided June 23, 2014 | |
| Full case name | Halliburton Co., et al. v. Erica P. John Fund, Inc., fka Archdiocese of Milwaukee Supporting Fund, Inc. |
| Docket no. | 13-317 |
| Citations | 573 U.S. 258 (more) 134 S. Ct. 2398; 189 L. Ed. 2d 339 |
| Argument | Oral argument |
| Opinion announcement | Opinion announcement |
| Case history | |
| Prior | Erica P. John Fund, Inc. v. Halliburton Co., 131 S. Ct. 2179, 563 U.S., 180 L. Ed. 2d 24 (2011). |
| Holding | |
| Securities fraud defendants must be afforded an opportunity to rebut the presumption of reliance before class certification with evidence of a lack of price impact. | |
| Court membership | |
| |
| Case opinions | |
| Majority | Roberts, joined by Kennedy, Ginsburg, Breyer, Sotomayor, Kagan |
| Concurrence | Ginsburg, joined by Breyer, Sotomayor |
| Concurrence | Thomas (in judgment), joined by Scalia, Alito |
| Laws applied | |
| Securities Exchange Act of 1934, Rule 10b-5 | |
Halliburton Co. v. Erica P. John Fund, Inc., 573 U.S. 258 (2014), is a United States Supreme Court case regarding class action certification for a securities fraud claim. Under the fraud-on-the-market theory, the Court had to inquire as to if markets are economically efficient. The Court presumed they are.