Key Points - Recently three circuit courts have considered when opinions can be false under the FCA. - Although the circuits disagree regarding whether plaintiff must establish “objective falsity” to assert an FCA...more
The Supreme Court holds that section 11 liability does not attach to a statement of opinion merely because the opinion is objectively false. On March 24, the US Supreme Court issued its highly anticipated decision in...more
Americans take as given the right to hold and express opinions. So it may come as a surprise to many that the federal securities laws impose civil liability for statements of opinion. It may be even more surprising that...more
If Monday’s oral argument in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund is a reliable indicator, it seems likely that the Court will adopt the “reasonable basis” standard advocated by the...more