Case Name: Amgen v. Conn. Ret. Plans and Trust Funds Court: U.S. Supreme Court Docket: 011-1085 Read Summary and AARP's Amicus Brief (PDF) Case Result: In a securities fraud class action where plaintiffs plead materiality, they need not establish materiality of alleged misstatements to invoke the fraud-on-the-market theory in support of class certification. |
Case Name: Erica P. John Fund, Inc. v. Halliburton Co. Court: U.S. Supreme Court Docket: 09-1403 Read Summary and AARP's Amicus Brief (PDF) Case Result: Securities fraud plaintiffs need not prove loss causation to obtain class certification. |
Case Name: Janus Capital Group v. First Derivative Traders Court: U.S. Supreme Court Docket: 09-525 Read Summary and AARP's Amicus Brief (PDF) Case Result: Because mutual fund investment adviser did not make the false statements included in the mutual fund prospectuses of its clients, it cannot be held liable in a private action under SEC Rule 10B-5, which prohibits "making any untrue statement of fact" in connection with the purchase or sale of securities, for its role in preparing those prospectuses. |
Case Name: Jones v. Harris Associates Court: U.S. Supreme Court Docket: 08-586 Read Summary and AARP's Amicus Brief (PDF) Case Result: Court adopts a totality of circumstances test (per Garteberg) to assess whether fees charged to retail mutual fund clients by investment advisors were reasonable. |
Case Name: Matrixx Initiatives, Inc. v. Siracusano Court: U.S. Supreme Court Docket: 09-1156 Read Summary and AARP's Amicus Brief (PDF) Case Result: In order to plead sufficiently a securities fraud case involving issuer's omissions to disclose adverse consumer incidents involving the issuer's pharmaceutical product, the number of incidents needs not be statistically significant. |
Case Name: Merck & Co. v. Reynolds Court: U.S. Supreme Court Docket: 08-905 Read Summary and AARP's Amicus Brief (PDF) Case Result: In civil actions for securities fraud, the statute of limitations begins to run once the plaintiff actually discovered or a reasonable diligent plaintiff would have discovered the facts constituting the violation, whichever comes first. |
Case Name: People of the State of New York v. Greenberg Court: N.Y. Ct. App. Docket: 401720/05 Read Summary AARP's Amicus Brief (PDF) Case Issue: Do states retain authority to police fraud in securities transactions or is the state's authority preempted by federal securities law? |
Some of the content presented here is in Adobe PDF format. You will need the free Acrobat Reader to access these files.
