Perspective
Dec. 19, 2012
Securities fraud case could impact settlement strategies
What must securities fraud plaintiffs prove at the class certification stage? The answer will have far reaching consequences due to certification's unique ability to drive settlement negotiations. By Joshua Hill and Jonathan Feingold
The U.S. Supreme Court recently heard argument in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, in which Amgen argued that securities fraud plaintiffs should be required to demonstrate the materiality of alleged misrepresentations as a prerequisite to class certification under the fraud-on-the-market theory. Although the questions posed by Amgen are formally limited to a plaintif...
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