In its 2014 decision in Halliburton v. Erica P. John Fund, the U.S. Supreme Court reaffirmed the presumption of reliance under the fraud on the market theory. The Court also held that at defendant may rebut the presumption of reliance by showing that the alleged misrepresentation at issue did not affect the defendant company’s share price. In the following guest post, David Topol and Jennifer Williams of the Wiley Rein law firm take a look at the way that the lower courts have applied the Court’s holding in the 2014 decision, and review some pending cases that could have important implications for this way that the decision is applied in the lower courts. I would like to thank David and Jen for their willingness to publish their article on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is David and Jen’s guest post. Continue Reading Guest Post: Upcoming Appellate Decisions: Rebutting the Basic Presumption of Reliance