Securities Fraud Class Action Suits Could Grow After Amgen’s Supreme Court Loss

Supreme Court rules 6-3 that plaintiffs do not need to prove that a company’s misrepresentations were material at the class certification stage; investors allege Amgen misrepresented the safety of Aranesp and Epogen.

A Supreme Court ruling that plaintiffs do not need to prove that a company’s misrepresentations were material in order to obtain class certification will make it easier for plaintiffs to pursue such cases against pharmaceutical companies.

In its Feb. 27 decision in Amgen Inc. v

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