ABA Publishes Akin Gump Attorneys’ Article on Class Certification “Minitrials”
In its Class Actions & Derivative Suits publication, the American Bar Association Section of Litigation has published “The Death Knell of the Class Certification Minitrial,” an article by Akin Gump litigation partner Michelle Reed and associate John Capehart.
The article discusses the U.S. Supreme Court’s holding in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds that plaintiffs need not establish the materiality of an alleged misstatement at the class certification stage in order to invoke the “fraud-on-the-market” theory. The Court also ruled that, in such cases, federal district courts are not required to allow defendants to present evidence rebutting the applicability of the fraud-on-the-market theory before certifying a plaintiff class, where such evidence solely rebuts materiality.
To read the full article, please click here .