U.S. Supreme Court Says Class Certification Proper in Case Against Asbestos Defendant

WASHINGTON, D.C. -- The U.S. Supreme Court has reversed lower court rulings that denied class certification to a group of plaintiffs who claim that asbestos defendant Halliburton lied about the scope of its potential liability in asbestos litigation. Erica P. John Fund Inc., v. Halliburton Co., et al., No. 09-1403 (U.S. Sup. Ct.).

In the June 6 ruling, the nation's highest court found that the securities fraud plaintiffs did not need to prove loss causation in order to obtain the certification.

The putative securities fraud class action complaint was filed against Halliburton and its executives. In the lawsuit, the …