Forbes / DPK in the News
Supreme Court Leaves Fraud On Market Intact, Makes Life A Bit Harder For Securities Plaintiffs
“'Today’s decision gives defense lawyers another chance early in a case to have it dismissed and thus avoid the inevitable settlement talks that follow class certification,' said Thomas Dewey of Dewey Pegno and Kramarsky. Corporate defendants now will hire economists to pore over stock charts to show that a company’s stock-price drop reflects other market moves, or that previous, similar announcements didn’t have the same effect, thus undercutting the idea that the price was inflated. ‘It’s a help for the defense, but its nothing like what would have been the case if they’d overruled Basic,’ he said.”
