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A Corporation’S Securities Litigation Gambit: Fee-Shifting Provisions That Defend Against Fraud-On-The-Market, Steven W. Lippman
A Corporation’S Securities Litigation Gambit: Fee-Shifting Provisions That Defend Against Fraud-On-The-Market, Steven W. Lippman
Law Student Publications
This comment lays out a framework that should allow corporations to strategically defend themselves against frivolous and meritless 10b-5 class action suits invoking Basic's Fraude-on-the-Market ("FOM") presumption of reliance. Part I of this comment discusses the current landscape of securities class action litigation. It explains how and why the suits are initiated and discusses the outcome of Halliburton Co. v. Erica P. John Fund, Inc. (Halliburton II). Part II discusses the framework for the proposition of this comment. It provides a brief history of significant cases and incorporates several recent cases that have opened the door to the possibility of …