Quotes · Quote card
Quotation from Basic Inc. v. Levinson by Supreme Court of the United States
“Any showing that severs the link between the alleged misrepresentation and either the price received (or paid) by the plaintiff, or his decision to trade at a fair market price, will be sufficient to rebut the presumption of reliance.”
Basic Inc. v. Levinson, Opinion of the Court (Justice Blackmun), Part IV (U.S. Reports text (Legal Information Institute))
Justice Blackmun describes how defendants may overcome the fraud-on-the-market presumption.
Citation: "Any showing that severs the link between the alleged misrepresentation and either the price received (or paid) by the plaintiff, or his decision to trade at a fair market price, will be sufficient to rebut the presumption of reliance." — Supreme Court of the United States, Basic Inc. v. Levinson, Opinion of the Court (Justice Blackmun), Part IV (U.S. Reports text (Legal Information Institute)). (id basic-inc-v-levinson-q4)
Portrait: Justice Blackmun Official, Unknown, Public domain.
