143178P.pdf   04/12/2016  IBEW Local 98 Pension Fund  v.  Best Buy Co., Inc.
   U.S. Court of Appeals Case No:  14-3178
   U.S. District Court for the District of Minnesota - Minneapolis   
   [PUBLISHED] [Loken, Author, with Murphy and Colloton, Circuit Judges] 
   Civil case - Securities law. In action alleging Best Buy violated Rule 
   10b-5 by making fraudulent or recklessly misleading public statements in a 
   press release and conference call to artificially inflate and maintain its 
   publicly traded stock price, the district court misapplied the price 
   impact analysis mandated in Halliburton Co. v. Erica P. John Fund, Inc. 
   134 S.Ct 2398 (2014) in certifying the matter as a class action; the 
   defendants presented strong evidence showing a lack of price impact which 
   was sufficient to rebut the fraud-on-the-market presumption set out in 
   Basic, Inc. v. Levinson, 485 U.S. 224 (1998), and the district court erred 
   in applying the presumption to find plaintiffs satisfied the Rule 23 
   requirement that common questions predominated. Judge Murphy, dissenting.