Editor's Note :

Editor's Note :

The Court did not grant any new cases today. On Monday at 9:30 a.m., we expect the Court to issue additional orders from the November 24 Conference. We expect one or more opinions in argued cases on Tuesday at 10 a.m.

Matrixx Initiatives, Inc. v. Siracusano

Docket No. Op. Below Argument Opinion Vote Author Term
09-1156 9th Cir. Jan 10, 2011
Mar 22, 2011 9-0 Sotomayor OT 2010

Holding: The plaintiffs have stated a claim for securities fraud under § 10(b) of the Securities and Exchange Act and SEC Rule 10b-5 based on a pharmaceutical company's failure to disclose reports of adverse events associated with a product, even if the reports do not disclose a statistically significant number of adverse events.

Plain English Holding: A drug company’s failure to make public reports of adverse drug reactions can constitute securities fraud, even if the number of adverse reactions is not statistically significant.

Judgment: Affirmed., 9-0, in an opinion by Justice Sotomayor on March 22, 2011.

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Certiorari-Stage Documents

  • Opinion below (9th Circuit)
  • Petition for certiorari (unavailable)
  • Brief in opposition (unavailable)
  • Petitioners’ reply (unavailable)
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