Halliburton II: The End of the Fraud-on-the-Market Presumption?

The U.S. Supreme Court granted cert on Halliburton’s petition for challenging the Basic v. Levinson precedent on fraud-on-the-market theory.  What are the arguments on both sides of this issue and what will the Court likely hold? This article will explore arguments on both sides of this issue and it's potential impact to certification of securities fraud class actions.