Reading Tea Leaves After Amgen

Law360, New York (March 15, 2013, 2:10 PM EDT) -- On Feb. 27, 2013, the U.S. Supreme Court issued its ruling in Amgen Inc. v. Connecticut Retirement Plans and Trust Fund. In the decision, the court held that plaintiffs in 10b-5 securities litigation need not prove materiality of the alleged misrepresentation in order to obtain class certification.

While commentators are heralding the decision as landmark, its importance may lie less in the line it draws for parties battling class certification and more in what it signals for a much broader issue in securities regulation. The fascinating...
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