- Category
- Client Alerts
- Date
- March 12, 2013
- Title
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Securities Litigation Alert: Supreme Court Addresses Standards for Class Certification in Federal Securities Fraud Actions
On February 27, 2013, the Supreme Court issued its much-anticipated decision in Amgen, Inc. v. Connecticut Retirement Plans & Funds, 568 U.S. __ (2013), addressing central questions concerning class certification in federal securities fraud actions that the Court last examined two terms ago in Erica P. John Fund, Inc. v. Halliburton Co., 563 U.S. ___ (2011). Like Halliburton before it, Amgen further clarifies the burdens that a plaintiff seeking class certification must carry. Because certification of a plaintiff class magnifies stakes of a securities fraud action -- and thus can create enormous pressure on defendants to settle -- the Amgen ruling is of critical importance to public companies and their directors and officers, insurance carriers and outside professionals.
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Related People
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Arthur H. Aufses III
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- Counsel
- Co-author
- New York
- vcard
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Alan R. Friedman
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- Counsel
- Co-author
- New York
- vcard
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