Supreme Court Upholds EMH In Halliburton Ruling

The US Supreme Court reaffirmed the ‘fraud-on-the-market’ theory into today’s ruling on the Halliburton v. Erica P John Fund, affirming its support for a moderate form of the efficient market hypothesis (EMH). While this ruling kept the standards established in Basic Inc V. Levinson in place, it made an important procedural change that will help corporations defend themselves against class action lawsuits.

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