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Barclays PLC, et al. v. Joseph Waggoner, et al.

Paid petition · United States Court of Appeals for the Second Circuit, No. 16-1912 · judgment November 6, 2017

Certiorari denied · April 30, 2018
Pre-decision estimate: 1% cert probability

Before the decision, well below the 4.1% base rate, with no standout signals pointing toward a grant.

Questions presented

  1. Whether a defendant seeking to rebut the fraud-on-the-market presumption of reliance under Basic Inc. v. Levinson, 485 U.S. 224 (1988), has a burden of production or a burden of persuasion.

  2. Whether plaintiffs may invoke the fraud-onthe-market presumption without direct evidence that the price of the security responded to new, material information during the class period.

Counsel of record

For petitioner
Jeffrey Thomas Scott
Sullivan & Cromwell LLP

For respondent
Jeremy Alan Lieberman
POMERANTZ LLP

Case

Conference history
Distributed for 1 conference

Amicus briefs
3 cert-stage

Proceedings

  1. Apr 30 2018
    Petition DENIED.
  2. Apr 11 2018
    DISTRIBUTED for Conference of 4/27/2018.
  3. Apr 10 2018
    Reply of petitioners Barclays PLC, et al. filed. (Distributed)
  4. Mar 30 2018
    Brief amici curiae of Financial Economists and Legal Scholars filed.
  5. Mar 30 2018
    Brief amici curiae of The Chamber of Commerce of the United States of America, et al. filed.
  6. Mar 30 2018
    Brief amici curiae of Former SEC Officials and Law Professors filed.
  7. Mar 23 2018
    Brief of respondents Joseph Waggoner, et al. in opposition filed.
  8. Mar 19 2018
    Blanket Consent filed by Respondents, Joseph Waggoner, et al.
  9. Mar 14 2018
    Blanket Consent filed by Petitioners, Barclays PLC, et al.
  10. Feb 26 2018
    Petition for a writ of certiorari filed. (Response due March 30, 2018)