Supreme Court grants securities fraud class certification without proof of loss causation

[JURIST] The US Supreme Court [official website; JURIST news archive] unanimously ruled [opinion, PDF] on Monday in Erica P John Fund v. Halliburton [Cornell LII backgrounder; JURIST report] that, though a party to a private securities fraud action must demonstrate that the defendant’;s misrepresentation caused economic loss, securities fraud plaintiffs do not need to prove loss causation for class certification. Erica P John Fund (EPJ Fund) sought class certification in a suit to recover investors’ losses from Halliburton. Halliburton, according…