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Seventh Circuit dismisses securities class action for failure to plead fraud

Holland & Knight LLP
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USA
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June 18 2012

On May 21, 2012, the United States Court of Appeals for the Seventh Circuit dismissed a federal securities class action against a medical device manufacturer

Supreme Court to decide whether materiality must be proven to certify a class

Blank Rome LLP
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USA
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June 14 2012

On June 11, 2012, the United States Supreme Court granted certiorari to resolve an issue that may impact whether companies can defeat securities fraud class actions early in the litigation

Supreme Court grants cert to determine if plaintiff must prove materiality before certifying class in securities fraud class action

Porter Wright Morris & Arthur LLP
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USA
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June 12 2012

On Monday, June 11, 2012, the Supreme Court granted a Writ of Certiorari in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085 (U.S. Jun. 11, 2012) to decide whether, in a misrepresentation case under SEC Rule l0b-5, the court must require proof of materiality before certifying a plaintiff class based on the fraud-on-the-market theory (and whether the court must allow the defendants to present evidence rebutting the applicability of the fraud-on-the-market theory before certifying the class

Directors’ duties: James Hardie

Russell McVeagh
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Australia
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May 18 2012

Earlier this month, the High Court of Australia found the directors of James Hardie Industries Ltd ("James Hardie") in breach of their duty of care by failing to prevent the company from making false or misleading statements to the market

The new Canada Consumer Product Safety Act: a catalyst for cross-border mass tort litigation?

Borden Ladner Gervais LLP
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Canada
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March 20 2012

New and expanded product safety legislation in Canada, superimposed on a backdrop of jurisdictions willing to certify mass tort and personal injury claims, has created an environment ripe for increasing class action activity across the U.S.Canada border

Supreme Court rejects bright-line test for determining materiality in securities fraud cases

Lane Powell PC
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USA
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April 21 2011

On March 22, 2011, the Supreme Court issued a unanimous opinion in Matrixx Initiatives v. Siracusano, that reaffirmed its long-standing test for determining materiality with respect to securities fraud claims under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, and rejected a "bright-line" materiality rule based on whether or not there was a "statistically significant number" of adverse events

In Matrixx Initiatives Supreme Court rejects SEC 10b-5 bright-line materiality rule

Baker & Hostetler LLP
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USA
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April 7 2011

The United States Supreme Court recently issued a decision of importance to public companies, especially manufacturers of potentially dangerous consumer products, regarding a Plaintiff's burden in a securities fraud class action when pleading an alleged misrepresentation or omission was material

Matrixx Initiatives, Inc. v. Siracusano: changes in adverse event reporting

Latham & Watkins LLP
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USA
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April 7 2011

On March 22, 2011 the US Supreme Court issued its decision in Matrixx Initiatives, Inc. v. Siracusano, in which it rejected the application of a bright-line rule that reports of adverse events related to the use of drugs and other products regulated by the US Food and Drug Administration (FDA) which do not rise to the level of statistical significance are immaterial as a matter of law under the federal securities laws

Supreme Court rejects statistical significance requirement in 10b-5 action involving life science company's failure to disclose adverse event reports

Dentons
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USA
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April 4 2011

On March 22, 2011, the Supreme Court of the United States issued an important opinion for life sciences companies in Matrixx Initiatives, Inc., et. al. v. Siracusano et. al., a class action securities lawsuit involving Matrixx's leading product, Zicam Cold Remedy

Supreme Court determines materiality standard for adverse event reports

Vedder Price PC
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USA
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April 1 2011

On March 22, 2011 the U.S. Supreme Court ruled that reports about the adverse effects of a product may be “material” even when not statistically significant

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Search results

Seventh Circuit dismisses securities class action for failure to plead fraud

Supreme Court to decide whether materiality must be proven to certify a class

Supreme Court grants cert to determine if plaintiff must prove materiality before certifying class in securities fraud class action

Directors’ duties: James Hardie

The new Canada Consumer Product Safety Act: a catalyst for cross-border mass tort litigation?

Supreme Court rejects bright-line test for determining materiality in securities fraud cases

In Matrixx Initiatives Supreme Court rejects SEC 10b-5 bright-line materiality rule

Matrixx Initiatives, Inc. v. Siracusano: changes in adverse event reporting

Supreme Court rejects statistical significance requirement in 10b-5 action involving life science company's failure to disclose adverse event reports

Supreme Court determines materiality standard for adverse event reports

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