Supereme Court Ruling Makes it Easier for Investors to Bring Class Action Claims

Representing Investors Nationwide

The U.S. Supreme Court made it easier for shareholders to press class action securities-fraud suits, ruling that drug maker Amgen, Inc (AMGN) must defend against claims that it misled investors about the safety of two drugs for anemia. The justices voted 6-3 with the majority saying investors can sue as a group without having to first show that misinformation propped up a company’s stock price.

This was a blow to business interests who claim class action law suits  are too expensive to defend and a victory for consumers who usually can’t afford to bring individual claims.

The complete February 27, 2013 Bloomberg article appears here.