The U.S. Supreme Court’s most recent opinion opinion in the arena of class action certification not only alters the landscape of class certification in securities fraud class actions, it also raises major questions about the future of class certification for claims of any nature. Amgen, Inc. v. Connecticut Retirement Plans & Trust Funds has the potential to dramatically lower the bar the putative class plaintiff must reach to obtain class certification.
Securities fraud class actions are brought under SEC Rule 10b-5, which prohibits fraud and deceit in connection with the purchase or sale of securities.
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