Current Affairs First Circuit Decisions Securities Class Actions
November 30, 2016 / February 26, 2019 by Mark Rosen
On November 28, 2016, the First Circuit upheld the dismissal of all but one of the class action securities fraud claims against Cambridge, MA drug company, ARIAD Pharmaceuticals, Inc., reaffirming the exacting pleading standards that enable defendants to put an early end to reflexive stock-drop lawsuits. In doing so, the First Circuit also adopted strict […]
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Class Certifications Current Affairs Supreme Court
March 27, 2015 / February 26, 2019 by mindgrub
This week the Supreme Court resolved a split among federal appellate courts over whether a statement of opinion in a company’s registration statement can be actionable under Section 11 of the Securities Act of 1933 if the speaker actually holds the stated opinion. The high court ruled that such opinions are not actionable as an “untrue statement of material fact” simply because they turn out to be wrong. But, taking another “midway position” on a divisive issue of securities class action litigation, the court left the door open...
Class Certifications Supreme Court
June 23, 2014 / February 26, 2019 by mindgrub
Earlier this spring, in our post titled, The Supreme Court Ponders the Future of the Basic Presumption in Securities Litigation, we reported on the oral arguments before the Supreme Court in...
First Circuit Decisions
May 30, 2013 / February 26, 2019 by mindgrub
In Mass. Ret. Sys. v. CVS Caremark Corp., the First Circuit recently revived a shareholder securities fraud class action stemming from the 2006 merger of retail pharmacy chain, CVS, and pres...
Class Action Settlements Class Certifications
March 5, 2013 / February 26, 2019 by mindgrub
In a watershed moment for class action securities litigation, last Wednesday the Supreme Court issued its opinion in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, making it ea...
