The Court of Appeals for the Seventh Circuit last week reversed a $2.46 billion judgment in a long-running securities-fraud class action against Household International and granted a new trial on limited issues. The opinion...more
5/29/2015
/ Appeals ,
Burden-Shifting ,
Class Action ,
False Statements ,
Janus Capital Group ,
Lenders ,
Loss Causation ,
Misrepresentation ,
Reversal ,
Rule 10b-5 ,
Securities Fraud ,
Stock Drop Litigation
The U.S. Supreme Court yesterday declined to abandon the efficient-market theory, with its rebuttable presumption of reliance that enables securities class actions to proceed without proof of actual reliance on alleged...more
The U.S. Supreme Court ruled on February 27, 2013 that a plaintiff need not prove materiality as a prerequisite to obtaining class certification in a securities class action. The Court's ruling in Amgen Inc. v. Connecticut...more