In the News Today – April 13, 2016
- 8th Circuit Applies Halliburton; Overturns Class Cert in Best Buy Case: Two years ago, the SCOTUS decision in Halliburton Co. v. Erica P. John Fund held that “defendants have the right at the class certification stage to show evidence that an alleged false statement did not impact a company’s stock price, thereby rebutting the fraud on the market presumption of reliance.” In the first circuit ruling to apply Halliburton, the Eighth Circuit this week overturned the certification of a class of Best Buy Co. shareholders, ruling that Best Buy showed evidence that allegedly misleading statements by company executives to securities analysts did not impact the company’s stock price. (Law360)
- Non-lawyers Performing Lawyer-Level Work for Texas Hailstorm Attorneys?: Individuals who previously worked for “known hailstorm” plaintiffs’ attorneys in Texas are reportedly claiming “lawyer-level work” on their online resumes, such as negotiations settlements and drafting pleadings. (Southeast Texas Record)
