US Supreme Court Rejects Bright-line Materiality Standard for Section 10(b) and Rule 10b-5 Claims | Practical Law

US Supreme Court Rejects Bright-line Materiality Standard for Section 10(b) and Rule 10b-5 Claims | Practical Law

An update on the US Supreme Court's opinion in Matrixx Initiatives, Inc. v. Siracusano rejecting a bright-line standard for determining whether plaintiffs had adequately pleaded materiality of a misrepresentation or omission in a claim under Section 10(b) and Rule 10b-5 under the Exchange Act.

US Supreme Court Rejects Bright-line Materiality Standard for Section 10(b) and Rule 10b-5 Claims

by PLC Corporate & Securities
Published on 23 Mar 2011USA (National/Federal)
An update on the US Supreme Court's opinion in Matrixx Initiatives, Inc. v. Siracusano rejecting a bright-line standard for determining whether plaintiffs had adequately pleaded materiality of a misrepresentation or omission in a claim under Section 10(b) and Rule 10b-5 under the Exchange Act.