The U.S. Supreme Court, which in recent years has ruled for business in a string of high-profile cases, agreed on Friday to hear a case that could herald a dramatic decline in securities class action litigation. The case will give the justices an opportunity to re-appraise a 25-year-old precedent, Basic v. Levinson, that made it easier for securities class action cases to go beyond the preliminary certification stage. Shareholders, led by the Erica P. John Fund Inc, sued Halliburton Co , saying the company understated its asbestos liabilities while overstating revenues in its engineering and construction business and the benefits of its merger with Dresser Industries. [
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NEW YORK, Nov. 15, 2013 /PRNewswire via COMTEX/ — Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against L & L Energy, Inc. (“L&L” or the “Company”)
LLEN 0.00% and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 13-cv-06704, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of L&L between September 11, 2012 and September 18, 2013 both dates inclusive (the “Class Period”). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. [
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