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AMGEN v. CONNECTICUT RETIREMENT PLANS AND TRUST

No. 11-1085.

133 S.Ct. 1184 (2013)

185 L.Ed.2d 308

AMGEN INC. et al., Petitioners v. CONNECTICUT RETIREMENT PLANS AND TRUST FUNDS.

Supreme Court of United States.

Decided February 27, 2013.

Attorney(s) appearing for the Case

Seth P. Waxman, Washington, DC, for Petitioners.

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

Melissa Arbus Sherry, for the United States as amicus curiae, by special leave of the Court, supporting the Respondent.

Noah A. Levine, Wilmer Cutler Pickering, Hale and Dorr LLP, New York, NY, Steven O. Kramer, John P. Stigi III, John M. Landry, Jonathan D. Moss, Sheppard, Mullin, Richter & Hampton LLP, Los Angeles, CA, Seth P. Waxman, Counsel of Record, Louis R. Cohen, Andrew N. Vollmer, Daniel S. Volchok, Weili J. Shaw, Wilmer Cutler Pickering, Hale and Dorr LLP, Washington, DC, for Petitioners.

Edward Labaton, Jonathan M. Plasse, Christopher J. McDonald, Labaton Sucharow LLP, New York, NY, David C. Frederick, Counsel of Record, Derek T. Ho, Emily T.P. Rosen, Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C., Washington, DC, for Respondent.

Justice GINSBURG delivered the opinion of the Court.

This case involves a securities-fraud complaint filed by Connecticut Retirement Plans and Trust Funds (Connecticut Retirement) against biotechnology company Amgen Inc. and several of its officers (collectively, Amgen). Seeking class-action certification under Federal Rule of Civil Procedure 23, Connecticut Retirement invoked the "fraud-on-the-market" presumption endorsed by this Court in Basic Inc. v. Levinson...

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