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... Read More
The first Monday in October is the opening day of the new Supreme Court term. In recent years the Court has heard a number of securities cases, considering issues regarding class certification in Erica P. John Fund v. Halliburton, 131 S. Ct. 2179 (2011... Read More
In Halliburton , the Supreme Court is deciding "Whether, in a private action under Section 10(b) of the Securities Exchange Act of 1934 . . . a plaintiff who invokes the fraud-on-the market presumption of reliance must prove loss causation in order... Read More
By Jill S. Abrams In December , we addressed the Ninth Circuit's recent decision in Connecticut Retirment Plans and Trust Funds v. Amgen, Inc., No. 0956965, 2011 U.S. App. LEXIS 22540 (9th Cir. Nov. 8, 2011) [ an enhanced version of this opinion... Read More