An Economist's View Of Amgen

Law360, New York (May 2, 2013, 5:33 PM EDT) -- First there was Halliburton[1], and now Amgen; is it only a matter of time before efficiency is no longer a prerequisite to certification?

The Amgen court decided that while the plaintiff class is required to prove materiality to prevail on the merits, it is not necessary to prove materiality at the class certification stage. In other words, whatever the news might be that is omitted or lied about; whether or not this news impacts the market price of a security, everyone in the class is affected...
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