New York, NY, June 25, 2013 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, announced today that it has scheduled a live webcast entitled Securities Law: Fraud-on-the-Market Theory Demystified. This two-hour live webinar is scheduled on July 23, 2013 at 12:00 PM - 2:00 PM ET.
The fraud-on-the-market doctrine (FOTM) is essential to class-action plaintiffs in securities fraud cases. The United States Supreme Court approved this doctrine in in 1988 in Basic v. Levinson as a means to overcome individualized reliance issues. FOTM is based on the theory that when a security is traded in an efficient market, all public information is reflected in the market price of the security and it can then be assumed that an investor who buys or sells stock at the market price relies upon all public statements. If a defendant can defeat FOTM's rebuttable presumption, it defeats class certification and effectively prevails on the case.
The Supreme Court recently suggested it may be willing to revisit the wisdom behind FOTM. In a brief concurrence in Amgen v. Connecticut Retirement Plans & Trust Funds, Justice Alito stated that he joined the majority opinion "with the understanding that the petitioners did not ask us to revisit Basic's fraud-on-the-market presumption," and stressed that he and the three dissenting Justices believe that in light of post-Basic developments in economic theory, "reconsideration of the Basic presumption may be appropriate.
Understanding FOTM and developments in economic theory will be even more important to both shareholders and companies in future securities fraud cases. In this two-hour webcast, a panel of thought leaders and practitioners will provide an in-depth analysis of FOTM by citing relevant cases and court decisions and offering substantive information regarding its implications on the presumption of reliance in securities fraud cases, as well as class certification proceedings and materiality. In addition, this presentation will provide practical guidance to effectively use FOTM or defeat the presumption in a securities fraud case. Join this live virtual webinar and get a chance to pose questions to the speakers during the live Q&A session.
Vinson & Elkins
Jennifer B. Poppe
Winston & Strawn LLP
Neal R. Marder
Partner and Chair, Consumer Class Actions Practice
Greenberg Traurig, LLP
NERA Economic Consulting
Dr. David Tabak
Senior Vice President
For an updated list of the faculty panel, please visit:
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress brings together the world's leading authorities and industry participants through informative two-hour webcasts that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.
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