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Ontario Court Certifies Another Plaintiff Class In A Secondary Market Misrepresentation Claim

For the second time, a court has given investors leave to proceed and also certified a plaintiff class in a secondary market misrepresentations claim under the revised Ontario Securities Act. In an order dated March 1, 2011, Ontario Superior Court Justice Wolfram Tausendfreund granted leave to investors...

Proof of Loss Causation Not Needed At Class Certification Stage, High Court Rules In Halliburton Case

As many observers had expected, the U.S. Supreme Court has reversed the Fifth Circuit's opinion in the Halliburton case. In a brief June 6, 2011 opinion from Chief Justice John Roberts , writing for a unanimous court, the Court held that securities class action lawsuit plaintiffs do not need to prove...

California Federal Judge Denies Class Certification In Securities Lawsuit Against China Agritech

During 2010 and 2011, a number of securities class action lawsuits were filed against U.S.-listed Chinese companies. Plaintiffs' lawyers seemed eager to pursue these cases despite likely procedural and practical challenges such as likely difficulties in obtaining discovery, as well as language and...

High Court Rules In Amgen Securities Class Action That Plaintiffs Not Required To Prove Materiality For Certification

In a much anticipated ruling in the Amgen securities class action litigation, the U.S. Supreme Court, in a 6-3 majority opinion written by Justice Ginsburg, held that a securities plaintiff is not required to prove that the allegedly misleading statements are material as a prerequisite to class certification...