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MATRIXX INITIATIVES, INC. v. SIRACUSANO

No. 09-1156.

131 S.Ct. 1309 (2011)

563 U.S. 27

MATRIXX INITIATIVES, INC., et al., Petitioners, v. James SIRACUSANO et al.

Supreme Court of United States.

Decided March 22, 2011.

Attorney(s) appearing for the Case

Jonathan Hacker, Washington, D.C., for Petitioners.

David C. Frederick, Washington, D.C., for Respondents.

Pratik A. Shah, for United States, as amicus curiae, by special leave of the Court, supporting the Respondents.

Michael G. Yoder, Molly J. Magnuson, O'Melveny & Myers LLP, Newport Beach, CA, Amy J. Longo, O'Melveny & Myers LLP, Los Angeles, CA, Jonathan D. Hacker, Counsel of Record, Matthew Shors, Loren L. Alikhan, R. Seth Davis, O'Melveny & Myers LLP, Washington, D.C., for Petitioners.

Darren J. Robbins, Eric Alan Isaacson, Joseph D. Dally, Scott H. Saham, Lucas F. Olts, Robbins Geller Rudman & Dowd LLP, San Diego, CA, Samuel H. Rudman, David A. Rosenfeld, Robbins Geller Rudman & Dowd LLP, Melville, NY, David C. Frederick, Counsel of Record, Scott H. Angstreich, Gregory G. Rapawy, Emily T.P. Rosen, Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C., Washington, D.C., for Respondents.

Justice SOTOMAYOR delivered the opinion of the Court.

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...

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