Petition of the day

Thepetition of the day is:

Issues:(1) Whether the legal standard to invokeBasic Inc. v. Levinson‘s presumption of reliance at minimum requires empirical evidence that a security generally reacted in a directionally appropriate manner to new material informationthat its price went up on good news and down on bad newsor, as the U.S. Court of Appeals for the 2nd Circuit ruled, whether the presumption can be based on other factors entirely unrelated to whether the alleged misstatement had price impact notwithstanding the Supreme Court’s holding inHalliburton Co. v. Erica P. John Fund, Inc. (Halliburton II); and (2) whether, contrary to the U.S. Court of Appeals for the 2nd Circuit’s ruling below, Federal Rule of Civil Procedure 23 and due process require that class membership be ascertainable through administratively feasible means.