Supreme Court Decides 2 Securities Fraud Cases

WASHINGTON — In a pair of securities fraud decisions issued Wednesday, the Supreme Court ruled for investors seeking to band together in a class-action lawsuit and imposed a strict time limit on some suits filed by the Securities and Exchange Commission. The class action case, Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085, was a kind of sequel to the court’s 2011 decision in Wal-Mart Stores v. Dukes, which threw out an enormous employment discrimination class action on the ground that the plaintiffs did not have enough in common to pursue their claims in a single lawsuit. Read New York Times report here.

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