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News & Analysis as of May 20, 2013

Looking Forward: Canadian Class Actions in 2013

by Bennett Jones LLP on 12/14/2012

Looking Forward - 2012 was an active year for class actions in Ontario. Bennett Jones has been involved in some of 2012’s leading cases, including the putative class proceedings commenced in Trustees of the Labourers’...more

Why Agency Fraud Is Like Fraud On The FDA

by Dechert LLP on 2/20/2012

In our rather terse (due to firm involvement) post on Monday concerning Merck & Co. v. Ratliff, ___ S.W.3d ___, 2012 WL 413522 (Ky. App. Feb. 10, 2012) – beating both BNA and 360 by two days, BTW – we...more

Supreme Court Appears to Hand Unanimous Victories to Investors, But Leaves Lots of Openings for Defendants

by Reed Smith on 6/9/2011

Matrixx Initiatives, Inc. v. Siracusano and Erica P. John Fund v. Halliburton The Supreme Court issued two opinions this term that could dramatically alter the landscape of securities fraud litigation. In Matrixx...more

Supreme Court Rejects Statistical Significance as Bright-Line Rule for Materiality

by Katten Muchin Rosenman LLP on 4/6/2011

The U.S. Supreme Court found that allegations of "statistical significance" were not a requirement for pleading materiality in a securities fraud action arising from a pharmaceutical company's alleged failure to disclose...more

U.S. Supreme Court In Matrixx: No Bright Line For "Materiality" In A Securities Fraud Claim

by Duane Morris LLP on 4/6/2011

On March 22, 2011, the U.S. Supreme Court unanimously concluded in the securities fraud class action Matrixx Initiatives, Inc. v. Siracusano1 that the materiality of adverse-event reports cannot be reduced to a bright-line...more

A MATRIXX Revolution, Part II: Supreme Court affirms Ninth Circuit's holding that life science companies cannot rely on a...

by Sheppard Mullin Richter & Hampton LLP on 3/29/2011

On March 22, the U.S. Supreme Court affirmed the Ninth Circuit's ruling in Matrixx Initiatives, Inc. v. Siracusano, 09-1156. See our prior blog article from November 18, 2010. Matrixx Initiatives, Inc. (“Matrixx”) is a...more

Supreme Court Rejects Attempt To Equate Statistical Significance With Materiality In Suit For Securities Fraud

by Wilson Sonsini Goodrich & Rosati on 3/25/2011

The United States Supreme Court issued a decision in Matrixx Initiatives et al. v. Siracusano et al. yesterday that will help securities class action plaintiffs survive motions to dismiss securities fraud cases. In a...more

Supreme Court Rejects Bright-Line Test For Materiality in Rule 10b-5 Class Action With Respect to Adverse Event Reports

by Ropes & Gray LLP on 3/24/2011

In Matrixx Initiatives, Inc. et al. v. Siracusano, et al., decided on March 22, 2011, the Supreme Court addressed the circumstances under which adverse event reports (“AERs”), i.e., reports by users of a drug that they...more

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