With all of the attention on last week’s Amgen decision, another interesting decision addressing the fraud-on-the-market presumption of reliance in securities fraud actions may have escaped notice. In GAMCO Investors, Inc. v. Vivendi, S.A. (S.D.N.Y. Feb. 28, 2013), Judge Scheindlin found that the defendant had rebutted the presumption of reliance as to a group of related… Continue Reading
Tag Archives: Amgen v. Conn. Retirement Plans
Supreme Court Holds that Securities Fraud Plaintiffs Need Not Show Materiality at Class Certification
Posted in Class Certification, SecuritiesToday, in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085, the Supreme Court held that proof of materiality is not a prerequisite for class certification in a securities fraud class action under Section 10(b), even though materiality is a predicate of the fraud-on-the-market presumption of reliance. The opinion for the majority of… Continue Reading
National Law Journal and Forbes Highlight Supreme Court’s Focus on Class Actions in Upcoming Term
Posted in U.S. Supreme CourtToday, Marcia Coyle of the National Law Journal and Daniel Fisher of Forbes each published previews of the just-commenced Supreme Court term that mention the three cases scheduled for argument that involve issues near and dear to the hearts of class-action practitioners: Standard Fire Insurance Co. v. Knowles, Comcast Corp. v. Behrend, and Amgen v…. Continue Reading