Published on July 13, 2017 | by LawNews
Prof. Ronald Colombo Quoted in Law360 on 2nd Circuit’s Ruling in Petrobas Securities Case
Petrobras Ruling a Mixed Bag for Investors
By Carmen Germaine | Additional reporting by Cara Mannion
July 11, 2017
Hofstra University professor Ron Colombo said the Second Circuit’s decision will make it more difficult for defendants in future cases to argue against market efficiency.
“And that’s such an important issue because if you can show that the market is efficient you can invoke the presumption of reliance, and that’s the only way you can effectively proceed as a class action in a securities fraud case,” Colombo said.
Read the full article on law360.com (registration required).