Court Opinion

ID: 9502836
Source: CourtListenerOpinion
Date Created: 2023-08-06 19:32:49.941125+00
Date Added: 2024-06-11T09:03:13.525853
License: Public Domain

Justice Alito,
concurring.
I join the opinion of the Court with the understanding that the petitioners did not ask us to revisit Basic’s fraud-on-the-market presumption. See Basic Inc. v. Levinson, 485 U. S. 224 (1988). As the dissent observes, more recent evidence suggests that the presumption may rest on a faulty economic premise. Post, at 489, n. 4 (opinion of Thomas, J.); see Langevoort, Basic at Twenty: Rethinking Fraud on the *483Market, 2009 Wis. L. Rev. 151, 175-176. In light of this development, reconsideration of the Basic presumption may be appropriate.