United States: The Supreme Court's Amgen Decision: Proof Of Materiality Is Not A Prerequisite To Certification Of A Securities Fraud Class Action - Blank Rome LLP
On February 27, 2013, six justices of the U.S. Supreme Court joined to hold that, in order for a class to be certified, plaintiffs in a securities fraud class action need only plausibly allege—not prove—that allegedly misleading statements are material.
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Found more than 1 month ago on channel
Mondaq
United States: Amgen: The Basic Problem - Fried Frank Harris Shriver & Jacobson
This week, in a 6 - 3 decision, the Supreme Court held that a plaintiff bringing a securities class action under Section 10(b) of the Exchange Act need not prove the materiality of the putative misstatement at the class certification stage to invoke the presumption of reliance established in Basic v. Levinson.
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amgen
certification
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exchange
frank
fried
harris
jacobson
levinson
materiality
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reliance
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shriver
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Found more than 1 month ago on channel
Mondaq
United States: Securities Litigation Defense Implications From The Supreme Court's Amgen Opinion - Jones Day
On February 27, 2013, the Supreme Court ruled in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085, that plaintiffs in a federal securities fraud action need not prove the materiality of an alleged misrepresentation to certify a class under the fraud-on-the-market theory.
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connecticut
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implications
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materiality
misrepresentation
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Found 1 month ago on channel
Mondaq
Canada: The Second Opinion: The U.S. Supreme Court Questions Fraud-On-The-Market - McCarthy Tétrault LLP
A discussion on the recent U.S. Supreme Court ruling in the Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, a securities fraud class action which is an important milestone in the evolution of the defences to securities disclosure class actions in the U.S., and potentially in Canada too.
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canada
connecticut
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defence
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evolution
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retirement
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Found 1 month ago on channel
Mondaq
United States: Supreme Court's Decision Reshapes Class Certification For Future Securities Class Actions - Holland & Knight
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 plaintiff must prove that the defendant's alleged misrepresentations are material at the class certification stage and whether a lack of materiality can be used by the defendant to rebut the "fraud-on-the-market" presumption of reliance.
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certification
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exchange
holland
knight
materiality
misrepresentation
presumption
reliance
section
securities
states
supreme
united
Found 1 month ago on channel
Mondaq