This year several developments have emerged in civil securities litigation and enforcement. In Halliburton Co. v. Erica P. John Fund, Inc., the Supreme Court examined the “fraud on the market” theory in class action securities cases. The Court has also reversed its decision to review the extent to which a filed class action securities case suspends the statute of repose for opt outs in Police and Fire Retirement System of the City of Detroit v. IndyMac MBS. The Supreme Court defined whistleblower protection in Lawson et al. v. FMR LLC et al., and the Second Circuit addressed liability admissions in enforcement actions in United States Securities and Exchange Commission v. Citigroup Global Markets, Inc.
Reprinted with permission from Thomson Reuters/Aspatore.
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