Jessie M. Gabriel

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District Court Follows Supreme Court’s Lead in Halliburton, Allows Class Action to Proceed with Narrowed Factual Scope

By Deborah Renner, Jessie M. Gabriel and David M. McMillan on July 31, 2015 Posted in Class Certification, Securities

Applying the Supreme Court’s landmark decision in Halliburton Co. v. Erica P. John Fund, Inc., 134 S. Ct. 2398 (2014) (“Halliburton II”), which allowed companies facing securities fraud class actions to defeat certification by presenting evidence that their alleged false statements did not impact the company’s stock price, the district court on remand held that … Continue Reading

Basic Is Anything But: Courts Continue to Wrangle with the Fraud-on-the-Market Presumption

By Jessie M. Gabriel on September 30, 2013 Posted in Class Action Trends, Predominance, Rule 23 Requirements, Securities

Co-authors: Mark Kornfeld and Deborah Renner Editors’ Note: This post has also been published as a BakerHostetler Client Alert. It has been 25 years since the Supreme Court announced the fraud-on-the-market presumption of reliance in Basic Inc. v. Levinson, 485 U.S. 224 (1988). Yet many courts, including the Supreme Court itself, continue to struggle in … Continue Reading

Southern District of New York Applies Daubert and Denies Class Certification in Securities Case

By Jessie M. Gabriel on April 4, 2012 Posted in Class Action Trends, Class Certification, Predominance, Securities

Continuing the trend in the Second Circuit since the IPO decision for courts to “rigorously” determine whether class certification is appropriate, on March 27, 2012, Judge Miriam Cederbaum of the United States District Court for the Southern District of New York denied plaintiff’s motion for class certification in the putative class action brought against Freddie … Continue Reading