Securities Fraud, Fraud-on-the-Market

Second Take on Amgen: Defense Arguments Largely Intact, Even in Overruled Circuits

by Claire Davis | Lane Powell PC - Securities / D&O Discourse on 3/29/2013

In our post in the immediate wake of the Supreme Court’s decision in Amgen Inc. v. Connecticut Retirement Plans, we concluded that rather than being a new threat to the defense of securities class actions, Amgen basically...more

Supreme Court's Decision Reshapes Class Certification for Future Securities Class Actions

by Michael D. Redondo | Holland & Knight LLP on 3/19/2013

On February 27, 2013, the U.S. Supreme Court addressed a long-standing circuit split on the issue of whether, when bringing a securities fraud class action under Section 10(b) of the Securities Exchange Act of 1934, a...more

The Material Impact of the Amgen Decision on D&O Insurance

by Matthew Klebanoff, Angelo Savino | Cozen O'Connor on 3/8/2013

In Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085 (Slip Op. Feb. 27, 2013), the U.S. Supreme Court, in a 6-3 majority opinion (Ginsburg, J.), affirmed the U.S. Court of Appeals for the 9th Circuit’s...more

United States Supreme Court Holds that Class Action Securities Fraud Plaintiffs Need Not Prove the Materiality of the Alleged...

by Steven Kramer, John M. Landry, John Stigi | Sheppard Mullin Richter & Hampton LLP on 3/8/2013

In Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, No. 11-1085, ___ WL ______ (U.S. Feb. 27, 2013), the United States Supreme Court affirmed the decision of the United States Court of Appeals for the Ninth Circuit...more

Life Sciences Companies Should Protect Themselves Against Increased Exposure to Costly Securities Fraud Lawsuits After Supreme...

by William Asher, Jr., Michael Dube, Michael Gass, Stuart Glass, Brenda Jarrell, PhD., Gerald Quirk | Choate Hall & Stewart LLP on 3/7/2013

What you need to know: The Supreme Court recently found that defendants in class action securities fraud lawsuits will not be able to challenge the materiality of allegedly fraudulent misstatements or omissions at the...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

Materiality Can Wait, Says the Supreme Court in Amgen

by Paul Karlsgodt | BakerHostetler on 2/28/2013

The following post is reprinted with permission from Paul Karlsgodt’s blog, www.classactionblawg.com. The Supreme Court has issued its opinion in one of the most highly anticipated class action-related cases on the...more

First Take on Amgen Decision: Supreme Court “Basically” Endorses Status Quo

by Douglas W. Greene | Lane Powell PC - Securities / D&O Discourse on 2/28/2013

The Supreme Court released its anxiously awaited decision in Amgen Inc. v. Connecticut Retirement Plans yesterday. On the face of the decision, it was a loss for defendants in that case, and for companies everywhere that are...more

Supreme Court Holds That Securities Fraud Plaintiffs Do Not Have to Prove Materiality to Certify a Class

by Jordan Eth, Joel Haims, Kayvan Sadeghi | Morrison & Foerster LLP on 2/28/2013

The Supreme Court issued a much-anticipated decision today in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085, 568 U.S. __ (2013), affirming the Ninth Circuit and holding that securities class action...more

Legal Alert: Supreme Court Decides Materiality Need Not Be Demonstrated for Class Certification

by Thomas Byrne, Thomas Curvin, Valerie Strong Sanders | Sutherland Asbill & Brennan LLP on 2/28/2013

This morning the United States Supreme Court affirmed class certification in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds , a securities fraud case. The question presented was whether plaintiffs seeking class...more

"Supreme Court Holds Securities Fraud Plaintiffs Are Not Required to Prove Materiality of Allegedly False Statements to Certify a...

by Jay Kasner, Matthew Matule, Edward Micheletti, Peter Morrison, Charles Smith | Skadden, Arps, Slate, Meagher & Flom LLP on 2/27/2013

Today, in a 6-3 decision, the Supreme Court of the United States held in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds that a securities fraud plaintiff alleging fraud on the market need not establish the...more

Public Company Alert: “Fraud-on-the-Market” Presumption Adopted in Oregon Securities Case

by Laura Warf, Marcus J. Williams | Davis Wright Tremaine LLP on 2/11/2013

With the recent Oregon Supreme Court case State of Oregon v. Marsh & McLennan Companies and Marsh Inc., Oregon is among the first states to recognize the “fraud-on-the-market” theory in securities cases....more

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Securities Fraud › Fraud-on-the-Market