Amgen Inc. v. Connecticut Retirement Plans and Trust Funds - Post-Argument SCOTUScast
SCOTUScast 11-28-12 featuring John Shu
November 28, 2012John Shu
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On November 5, 2012 the Supreme Court heard oral argument in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds. The question in this case is whether, in misrepresentation cases under SEC Rule 10-b(5), plaintiffs asserting a fraud-on-the-market theory must prove materiality before they can proceed with a class action, and whether the defendants are permitted to present evidence rebutting a fraud-on-the-market theory at the class certification stage.
To discuss the case, we have John Shu, a securities litigator in Newport Beach, CA.
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|Oral Argument Transcript - November 5, 2012 (PDF)|