Awaiting The High Court Amgen Decision

Law360, New York (July 11, 2012, 12:56 PM EDT) -- On June 11, 2012, the U.S. Supreme Court granted the petition for a writ of certiorari in an appeal of the Ninth Circuit’s order affirming certification in Amgen Inc. v. Connecticut Retirement Plans, --S. Ct.--.

The questions presented by the defendant petitioners are (1) whether in a securities class action under Section 10(b) a district court must require proof of materiality before certifying a plaintiff class based on a presumption of reliance under the fraud-on-the-market theory, and (2) whether a district court must allow the defendant...
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