High Court's Amgen Ruling Could Stymie Securities Classes

Law360, New York (June 12, 2012, 7:27 PM ET) -- In agreeing Monday to hear Amgen Inc.'s appeal of a recent Ninth Circuit decision, the Supreme Court moved to resolve a glaring split between the circuits and establish when materiality needs to be proved in a securities fraud action, a decision that could make it substantially harder for plaintiffs to win class certification, experts say.

Last November, the Ninth Circuit joined the Seventh Circuit in holding that plaintiffs in a securities fraud action need only plausibly allege — not prove — materiality in order to certify...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required