Class Certification, Fraud | JD Supra Law News

First Circuit Vacates Denial Of Class Certification In Opinion Concerning Pfizer’s Off-Label Marketing Of Neurontin

by Jennifer M. McPheeters | Carlton Fields on 5/7/2013

In Harden Manufacturing Co. v. Pfizer, Inc., 712 F.3d 60 (1st Cir. 2013), one of three cases addressing Pfizer’s off-label marketing of the anticonvulsant drug, Neurontin, the First Circuit vacated the district court’s denial...more

Second Circuit Reverses Class Certification Order, Holding That a Clearing Broker's Alleged Knowledge of Fraud Against...

by John M. Landry, Jonathan Moss, John Stigi | Sheppard Mullin Richter & Hampton LLP on 3/28/2013

In Levitt v. J.P. Morgan Securities, Inc., No. 10-4596, 2013 WL 1007678 (2d Cir. Mar. 15, 2013), the United States Court of Appeals for the Second Circuit reversed a district court order certifying a class of shareholder...more

Applicability of Amgen Decision Should be Very Narrow

by Thomas Gilbertsen | Venable LLP on 3/8/2013

When the Supreme Court issued its decision in Wal-Mart Stores, Inc. v. Dukes in 2011, defense lawyers hailed the case as a game-changer that would level the class action playing field in an arena that traditionally favored...more

Supreme Court Holds That Proof Of Materiality Is Not A Prerequisite To Certification Of Fraud-On-The-Market Securities Class...

by David Kolker, Ryan Philp, Laurence Silverman | Bracewell & Giuliani LLP on 3/8/2013

On February 27, 2013, the United State Supreme Court issued its decision in Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, No. 11-1085, 568 U.S. __ (2013). In an opinion authored by Justice Ginsburg,1 the Supreme...more

Supreme Court Rules In Favor Of Plaintiffs In Amgen Securities Class Action

by Gay Parks Rainville, Michele Zarychta | Pepper Hamilton LLP on 3/7/2013

Continuing its recent trend of handing down plaintiff-friendly decisions in private securities class actions brought under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and SEC Rule 10b-5 (Rule...more

Supreme Court Holds Securities Fraud Class Certification Does Not Require Showing Of Materiality, With Strong Dissents Questioning...

by Joseph Bringman, Todd Kerr | Perkins Coie on 3/7/2013

In its long-awaited decision in Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, No. 11-1085 (U.S. Feb. 27, 2013), the U.S. Supreme Court held that plaintiffs in a securities-fraud class action do not need to...more

Litigation Alert: Amgen: A Pyrrhic Victory For Plaintiffs in Securities Class Actions?

by Marie C. Bafus, Kevin P. Muck | Fenwick & West LLP on 3/7/2013

In a 6-3 decision issued last week, the Supreme Court ruled in Amgen Inc. v. Connecticut Ret. Plans & Trust Funds, 568 U.S. ___, 2013 WL 691001 (Feb. 27, 2013), that shareholders bringing class actions under Section 10(b) of...more

U.S. Supreme Court Lowers the Bar for Class Certification in Private Securities Fraud Actions

by Suzan Jo, Marvin G. Pickholz | Duane Morris LLP on 3/6/2013

On February 27, 2013, the U.S. Supreme Court issued its opinion in Amgen, Inc. v. Connecticut Retirement Plan and Trust Funds, 568 U.S. ___ (2013), resolving a conflict among the Courts of Appeals "over whether district...more

Reading Tea Leaves After the Supreme Court’s Amgen Securities Litigation Decision

by Matthew Baltay, Paul Bork | Foley Hoag LLP on 3/6/2013

On February 27, 2013, the Supreme Court issued its ruling in Amgen Inc. v. Connecticut Retirement Plans and Trust Fund. In the decision, the Court held that plaintiffs in 10b-5 securities litigation need not prove...more

Supreme Court Ruling Lowers Class Action Hurdle for Securities Fraud Cases

by Michael Rosensaft | Katten Muchin Rosenman LLP on 3/6/2013

On February 27, the Supreme Court upheld a lower court’s determination that proof of materiality is not required before certifying a securities fraud class action....more

Plausible Allegations – Not Proof – Of Materiality All That’s Required For Class Certification in Securities Fraud Suits, Says...

by Thomas Levinson, Sarah Wolff | Reed Smith on 3/1/2013

In its ruling on February 27, in Amgen, Inc. v. Connecticut Retirement Plans & Trust Funds (No. 11-1085), the first of several highly anticipated class action decisions that impact securities class action litigation going...more

Supreme Court Update: Two Securities Law Decisions This Week, and Another to Come

by Jeffrey Cook, Brian Miller | Akerman Senterfitt on 3/1/2013

The United States Supreme Court has taken a keen interest in the securities arena this current term, agreeing to hear at least three cases (of only approximately 70 in total). This week, the Supreme Court announced decisions...more

Amgen Inc. v. Connecticut Retirement Plans And Trust Funds: Does Supreme Court Put “Cart Before The Horse” To Satisfy Predominance...

by Joshua E. Roberts | Carlton Fields on 2/28/2013

To best understand this decision, we need to look at the rules concerning both class actions and securities: - According to Rule 23(b)(3), a class action may be maintained if the court finds that questions of law or...more

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Class Certification › Fraud