Supreme Court’s Amgen decision makes it easier for shareholders to bring class actions

Court says shareholders can sue before proving that misinformation inflated stock price

The Supreme Court handed down a decision yesterday that experts say will have big implications for securities class action litigation.

Yesterday, the high court ruled 6-3 that shareholders of Amgen Inc. could bring a securities fraud class action against the biotechnology company without first showing that misinformation had materially and fraudulently inflated the company’s stock price. Experts say the decision will make it easier for shareholders to bring securities class actions against corporate defendants.

Ashley Post

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