Tag Archives: securities fraud

Second Circuit Interprets Transaction Prong of Morrison Test

Recently, in Absolute Activist Value Master Fund Limited v. Ficeto, Docket No. 11-0221-cv, 2012 U.S. App. LEXIS 4258 (2d Cir. Mar. 1, 2012), the Second Circuit interpreted for the first time, the second prong of the test enunciated by the … Continue reading

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Will the U.S. Supreme Court Address the Class Action Fraud-on-the Market Presumption?

Last week, we addressed the Ninth Circuit’s recent decision in Connecticut Retirment Plans and Trust Funds v. Amgen, Inc., No. 0956965, 2011 U.S. App. LEXIS 22540 (9th Cir. Nov. 8, 2011) regarding the fraud-on-the-market presumption, and the split in the … Continue reading

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Plaintiffs Need Only “Plausibly Allege” Materiality at the Class Certification Stage

In the Ninth Circuit, a plaintiff invoking the fraud-on-the-market presumption at the class certification stage does not need to prove materiality; he must only plausibly allege that the misstatements were material.In so holding, the Ninth Circuit joins the Third and Seventh … Continue reading

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