On Monday, June 6, 2011, the Supreme Court issued a unanimous decision in
Erica P. John Fund, Inc. v. Halliburton Co., ruling that plaintiffs in a private securities fraud class action need not prove loss causation in order to obtain a certified class. That decision, authored by Chief Justice Roberts, abrogates the 5th Circuit decision
Oscar Private Equity Investments v. Allegiance Telecom, Inc., 487 F.3d 261 (5th Cir. 2007) and its progeny.
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