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United States Ninth Circuit

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Connecticut Retirement Plans and Trust Funds v. Amgen, Inc., 09-56965

In an appeal from a judgment of the district court granting class-certification in a 10b-5 securities fraud action, judgment is affirmed where the correctly refused to consider defendant's truth-on-the-market defense at the class certification stage because in order to invoke the fraud-on-the-market presumption, plaintiff must merely show that the security in question was traded in an efficient market, and that the alleged misrepresentations were public, but need not, at the class-certification stage, prove materiality.

Appellate Information

  • Decided 11/08/2011
  • Published 11/08/2011




  • United States Ninth Circuit


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