9th Circ. Keeps Investor Class Intact In Anemia Drug Fight

Law360, New York (November 8, 2011, 7:38 PM EST) -- The Ninth Circuit refused on Tuesday to decertify a class of shareholders in a case alleging Amgen Inc. misled investors about two top-selling anemia drugs, ruling the suit plausibly alleged the biotech company's statements were both false and material.

In seeking to overturn class certification, Amgen contended that the district judge should not have certified the class because the group of Connecticut pension funds filing suit had not proven Amgen's alleged misstatements were material.

However, the pension funds had only to plausibly allege — not prove...
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Case Information

Case Title

Connecticut Retirement v. Amgen Inc et al


Case Number

2:07-cv-02536

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Philip S. Gutierrez

Date Filed

April 17, 2007

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