Basic survives — barely
The Supreme Court held today that plaintiffs in securities fraud cases may continue to use a 26-year-old presumption that "the price of stock traded in an efficient market reflects all public, material information — including material misstatements." Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317, slip op. at
Standing nearby when what our banker friends call a liquidity event takes place can result in an influx of wealth. Who doesn't want that.
The opposite feeling takes hold for what we'll refer to as liability events. These usually involve the disappearance of money that belongs to Other People. Bankers like to distance themselves in those instances.
Sometimes
