I'd like to take a brief moment to ask both of you for your key takeaways or your final thoughts.
Cynthia, perhaps you want to lead us off
with a few of your key takeaways from
today.
Really, the key takeaways are ...
you know there are many courts
interpretations of Halliburton II.
We're still seeing, you know, courts
that say you don't have to show the
direct price impact. We're still paying
courts that say you know the indirect
indicia or enough. So it's really
interesting to watch because there is
you know, a lot of diversity among the
decisions out there. And you know one of
the cases that we're keeping our eye on
is the Allstate case now which has
Allstate has recently petitioned that
they'd be able to show a lack of price
impact and defeat class certification. So
we'll see what happens there. And I think
it's just it makes for a very rigorous
economic analysis, you know, forum, you
know class certification. So that's what
we're keeping our eye on.
Thank you so much. Shaama, some key takeaways from yourself as well, please.
Sure, so I certainly agree with Cynthia. I think in the wake of the
Halliburton II ruling there's a bunch
of diversity among Court opinions which
has led to I think pretty interesting
fertile ground for you know more robust
and detailed economic analysis at the
class certification stage. I think it's
more of an opportunity for both sides to
really start wrestling with and engaging
with issues that are going to be of
importance down the road at the merits
stage of their litigation. And I think
essentially there's no one-size-fits-all
answer, when it comes to fraud on the
market or price impact. I think that's my
key takeaway is there's nuance, there's
idiosyncrasy. And you really have to sort
of wrestle with
and handle the unique nature of you know,
the allegations in the case, how the
court has ruled on motion to dismiss
what types of evidence, what types of
economic evidence you're seeing, and
sort of taking all that into account in
formulating legal strategy. I think it's
going to be extremely important.
