Protest 73445-K of Furness Pacific, Ltd.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• explaining that event studies may show both market efficiency and a lack of price impact
• observing that a defendant may rebut the presumption by demonstrating, inter alia, “that a plaintiff would have, bought or sold the stock even had he been aware that the stock’s price was tainted by fraud”
• upholding certification on the basis of a presumption of reliance even where \the defendant might attempt to pick off the occasional class member here or there through individualized rebuttal\
• observing, in the context of a securities fraud class action, that “[i]f every plaintiff had to prove direct reliance on the defendant’s misrepresentation, ‘individual issues then would ... overwhelm[ ] the common ones,’ making certification under Rule 23(b)(3
• \Debates about the degree to which stock prices accurately reflect public information” are \largely beside the point.”
• \[a]ny showing that severs the link between the alleged misrepresentation and...the price received (or paid) by the plaintiff..will be sufficient to rebut the presumption of reliance\

Source: CourtListener parenthetical corpus (CC0).