The ACI’s 7th National Forum on ERISA Litigation in Chicago last week provided a tremendous amount of information, analysis, and legal advice for ERISA litigators from around the country, and the 8th National Forum to be held later this year in New York will undoubtedly do the same as well.
While most ERISA litigators are anxiously awaiting the Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer, (Sup. Ct. Dkt. 12-741), they should also be paying close attention to the Supreme Court’s upcoming decision in Halliburton v. Erica P. John Fund, Inc. (Sup. Dkt. 13-317). In Halliburton, the Supreme Court is deciding whether to overrule or substantially modify the “fraud on the market” presumption established in Basic v. Levinson, 485 U.S. 224 (1988) which has formed the framework for securities class action litigation for more than 25 years. The Supreme Court is also determining whether a defendant has the right to rebut the Basic presumption with evidence at the class certification stage (potentially expanding or adding clarity to the Court’s recent class action decisions in Wal-Mart v. Dukes, Comcast, and Amgen). The Court’s rulings on these two issue could have a profound impact on ERISA stock drop class action litigation.
Both decisions are expected before the Court’s term ends in June, and both will be required reading for anyone involved in ERISA class action litigation.
Additional information from the ACI panel, "Expert Coordination: Working with Financial and Fiduciary Experts" can be found at the Pension Risk Matters blog written by Dr. Susan Mangiero, a CFA charterholder, Accredited Investment Fiduciary Analyst, and certified Financial Risk Manager.
- Partner
Joe Callow helps clients manage and reduce litigation risk and litigation costs. When litigation arises, he handles and coordinates cases on a national, regional, and local basis.
Joe primarily works on class action and complex ...
Blog Contact: Joseph Callow, Litigation Partner
jcallow@kmklaw.com or 513.579.6419
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