Securities Fraud Class Action Suits Could Grow After Amgen’s Supreme Court Loss
This article was originally published in The Pink Sheet Daily
Executive Summary
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.
You may also be interested in...
Ruth Bader Ginsburg’s Impact On Pharma, From Patents To The First Amendment
Justice Ginsburg wrote two decisions in pharmaceutical related-cases over the past decade, joined the majority in opinions on the scope of patents, and dissented in decisions giving protection to generic manufacturers and speech of pharmaceutical companies. Her death could impact the outcome of cases challenging the Affordable Care Act.
Judge Gorsuch Could Be Pharma Ally In FDA Disputes
Supreme Court nominee's opposition to deference for administrative agencies could help biopharma industry in its battle over off-label communications if the issue ever goes before the court; he also supports securities litigation reform.
Amgen Stock Drop Suit Booted By Supreme Court, But Not On Principle
Former employees might not be able to sue Amgen regarding insider knowledge of Aranesp problems, but other firms could still face similar ERISA suits – and Amgen itself is still fighting litigation from disgruntled investors.