Legal Opinion
Matrixx Initiatives, Inc. v. Siracusano
Supreme Court of the United States
Decided March 22, 2011No. 09-1156PublishedCited by 1,047 opinions
1Opinion of the CourtJustice Sotomayor
This case presents the question whether a plaintiff can state a claim for securities fraud under § 10(b) of the Securities Exchange Act of 1934, 48 Stat. 891, as amended, 15 U. S. C. § 78j(b), and Securities and Exchange Commission (SEC) Rule 10b-5, 17 CFR §240.10b-5 (2010), based on a pharmaceutical company’s failure to disclose reports of adverse events associated with a product if the reports do not disclose a statistically significant number of adverse events. Respondents, plaintiffs in a securities fraud class action, allege that petitioners, Matrixx Initiatives, Inc., and three of its…
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