Securities Fraud Class Action Suits Could Grow After Amgen's Supreme Court Loss
Pink Sheet DAILY
February 27, 2013
Christopher J. McDonald comments on Amgen Supreme Court ruling that plaintiffs do not need to prove that a company's misrepresentations were material at the class certification stage
Christopher McDonald, of Labaton Sucharow, who represented Connecticut Retirement, said the decision will resolve uncertainty as to what is required at the class certification stage.
"The result is a clear win for investors," he stated. "It removes an impediment the defense bar was raising that made the prosecution of securities fraud class actions more difficult."