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| Lucian Bebchuk | Allen Ferrell
Rethinking Basic. Lucian Bebchuk, Allen Ferrell, April 2014, Paper. "In the Halliburton case, the United States Supreme Court is expected to reconsider the Basic ruling that, twenty-five years ago, adopted the fraud-on-the-market theory, which has since facilitated securities class action litigation. In this paper we seek to contribute to this reconsideration. We provide a conceptual and economic framework for a reexamination of the Basic rule,…