High Court: Investors Properly Pleaded Materiality In Securities Class Action Suit

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on March 22 unanimously affirmed that shareholders of a drug maker properly showed that the drug maker violated federal securities law by failing to disclose that one of its products caused adverse effects ( Matrixx Initiatives, Inc., et al. v...

James M. Wilson Jr. On Securities Class Actions - Analysis Of The Supreme Court's Decision In Erica P. John Fund, Inc. v. Halliburton Co.

Excerpt: Introduction: On June 6, 2011, the Supreme Court unanimously rejected the Fifth Circuit Court of Appeal's requirement that plaintiffs in securities class actions prove "loss causation" at the class certification stage of the case. In order for investors to proceed as a class...