Securities Class Action Certified Against Halliburton Regarding Asbestos Disclosures

Halliburton now faces a securities class action regarding its alleged failure to adequately disclose its asbestos liabilities and risks. The case was in the news last year when the US Supreme Court overturned the Fifth Circuit and held that it had improperly applied class action rules to reject the class. The issues related to proof of loss causation. LAW360 (subscription required) reports the trial judge has entered a decision to certify the class – the opinion does not go into much detail due, apparently, to the lengthy prior history.

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