Michelle Reed Quoted by Law360 on Halliburton Securities Class Action Suit
Law360, for its article “Halliburton Decision To Test High Court Gift To Defendants,” quoted Akin Gump litigation partner Michelle Reed on the potential impact of a pending decision in Erica P. John Fund Inc. et al. v. Halliburton Co. et al., a long-running securities class action suit.
Reed noted that the resulting decision may help to shape similar class certification hearings in the future, saying, “[t]his is a bellwether case in many ways,” and may also impact a potential settlement between the two parties. However, she added, “even if [the judge] grants class certification, she can still issue an opinion that might not increase value of settlement.”
The article indicated that one of the challenges facing the Texas federal judge is what to do with competing—and equally compelling—expert testimony. Reed said that the judge described the choice before her as a “stark” one and that “she didn’t give any indication about which way she would rule,” except to take issue with some of the methodology employed by the plaintiffs’ expert.
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