Supreme Court Backs Securities Lawsuits

Shareholders needn't have lost money to get class-action status, court says

The U.S. Supreme Court made it easier for some investors to press securities fraud suits, ruling for shareholders who accuse Halliburton Co. of misrepresenting its financial condition while under Dick Cheney’s leadership.

The justices today unanimously said the shareholders can sue as a group without first establishing that they lost money as a result of the alleged fraud. The decision set aside a federal appeals court ruling.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Advertisement. Closing in 15 seconds.