The Supreme Court granted certiorari in a
significant securities case on Friday. Erica P. John Fund, Inc. v.
Halliburton Co , No. 09-1403. The question the Court agreed to consider
focuses on whether plaintiffs in a securities fraud class action must prove
loss causation at the class certification...
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...
Plaintiffs in a securities class action are not required
to prove loss causation as part of the class certification process, the Supreme
Court held in a unanimous decision handed down on Monday. Erica P. Hon Fund,
Inc. v. Halliburton Co., No. 09-1403 (Decided June 6, 2011) [ the enhanced version of...
WASHINGTON, D.C. - (Mealey's) A shareholder plaintiff and
a pharmaceutical company debated in front of the U.S. Supreme Court on Nov. 5 whether
a securities lawsuit may proceed as a class action even if the plaintiff is
unable to plead materiality ( Amgen Inc., Kevin W. Sharer, Richard D. Nanula...
WASHINGTON, D.C. - (Mealey's) Materiality is not a prerequisite to class certification in a securities class action lawsuit where the plaintiffs are seeking monetary damages for alleged violations of Sections 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule...
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...
by Jonathan Eisenberg
Plaintiffs in securities fraud
cases rely on the fraud-on-the-market presumption of reliance to obtain class
certification. As the Supreme Court recently stated in Amgen Inc. v.
Connecticut Retirement Plans, No. 11-1085, slip op. at 5-6 (Feb. 27, 2013)