Tag Archives: presumed reliance

Is “Materiality” a Class Certification or Merits Issue?

Contributing Author: Taylor Jackson The Supreme Court agreed last month to hear an appeal from a Ninth Circuit case, Conn. Retirement Plans & Trust Funds v. Amgen, Inc., 660 F.3d 1170 (9th Cir. 2011), that affirmed an order certifying a securities fraud class based on the fraud-on-the-market theory. Plaintiffs alleged Amgen misrepresented the safety of … Continue Reading

Ninth Circuit Affirms That One State’s Laws Cannot Apply to a Nationwide Class and That a Presumption of Reliance Was Improper

By Rodger Eckelberry on February 2, 2012 Posted in Consumer Fraud, Rule 23 Requirements

In Mazza v. American Honda Motor Company, Inc., 666 F.3d 581 (9th Cir. 2012), the Ninth Circuit reversed certification of a nationwide class of automobile consumers, rejecting the district court’s choice of law and predominance analyses. Though a split-decision, the Mazza majority reinforced states’ individual interests and ability to regulate consumer transactions occurring within their … Continue Reading