Recent Posts

SEC’S Brief in Matrixx Initiatives: A Question of Materiality
Posted on 16 Nov 2010 by Thomas O. Gorman

The Commission filed its amicus curiae brief in Matrixx Initiatives, Inc. v. Siracusano , No. 09-1156 (S.Ct.), one of two securities cases the Supreme Court will hear this term. Matrixx centers on the proper test of materiality at the pleading stage... Read More

Supreme Court Rejects "Statistical Significance" Requirement for Securities Suit Materiality
Posted on 22 Mar 2011 by Kevin M. LaCroix

In a unanimous March 22, 2011 opinion by Justice Sonia Sotomayor , the U.S. Supreme Court rejected the argument of Matrixx Initiatives that adverse product reports must be "statistically significant" in order for a manufacturer to have an... Read More

Disclosure of "Material" Information To Shareholders: Matrixx v. Siracusano
Posted on 13 Jun 2011 by James M. Wilson, Jr.

Plaintiff attorney James M. Wilson, Jr. discusses the Supreme Court unanimous rejection of a pharmaceutical company's attempt to inject a bright line test to determine what "material" information is required to be disclosed to shareholders... Read More

Drug Maker to Pay$4.5M to Settle Claims in Securities Class Action Lawsuit
Posted on 30 Jul 2012 by LexisNexis® Mealey's™ Legal News

PHOENIX - (Mealey's) Matrixx Initiatives Inc. will pay $4.5 million to settle claims with shareholders that it violated federal securities law by concealing side effects of a cold medication it developed and marketed, according to documents filed... Read More

Cadwalader Clients & Friends Memo: In Matrixx Decision the Supreme Court Rejects Bright-Line Materiality Test for Motions to Dismiss Securities Fraud Claims
Posted on 10 Jun 2011 by Cadwalader, Wickersham & Taft LLP

On March 22, 2011, the United States Supreme Court, in a unanimous decision written by Justice Sonia Sotomayor, stated that the "materiality" element of a claim for securities fraud under Section 10(b) of the Securities Exchange Act of 1934... Read More

Securities Class Actions-Analysis of Supreme Court's Decision In Erica P. John Fund, Inc. v. Halliburton Co.
Posted on 24 Jun 2011 by James M. Wilson, Jr.

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