Two class action disputes divided the U.S. Supreme Court yesterday as companies looked to build on the victory they won last year when the justices threw out a nationwide gender-bias suit against Wal-Mart Stores Inc.

Hearing two arguments in Washington, the court's Republican-appointed majority questioned separate efforts to press an antitrust suit against Comcast Corp., the nation's largest cable television company, and a securities fraud case targeting Amgen Inc., the world's largest biotechnology company.

Both cases test the standards for determining whether lawsuits can proceed on a group basis. Of the two, the Amgen case may have the greater impact, potentially erecting a new barrier for shareholders who accuse companies of making misleading statements that affect stock prices.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.