The Supreme Court’s seeming campaign to curtail class actions reached a new level Nov. 15 with its decision to revisit a 25-year-old precedent that launched thousands of securities class actions and generated billions of dollars in settlements and legal fees.
But by granting review in Halliburton v. Erica John Fund, the court did not necessarily set securities class actions on the path to extinction, says Stanford Law School professor Joseph Grundfest, a leading scholar and chronicler of this category of litigation.
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