Amgen Wins Supreme Court Review Of EPO Securities Fraud Class Certification
This article was originally published in The Pink Sheet Daily
The court will decide whether a party seeking class certification must show that a company’s alleged misrepresentations are material; investors claim Amgen misrepresented the safety of Aranesp and Epogen prior to a May 2004 FDA advisory committee meeting.
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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.
Justices address whether plaintiffs need to prove company misrepresentations are material at the class certification stage; pension funds claim Amgen misrepresented the safety of Aranesp and Epogen prior to an FDA advisory committee meeting.
Adverse Events Disclosures May Increase After Supreme Court Ruling Against Matrixx, But "Total Mix" Matters
Companies may have to disclose adverse event reports that are not statistically significant, but the court says the amount of disclosure needed can be limited by how much a company tells the market about an issue in general.