Amgen Inc. v. Connecticut Retirement Plans and Trust Funds - 11-1085 (2013)
SUPREME COURT OF THE UNITED STATES
AMGEN INC., et al., PETITIONERS v. CONNECTICUT RETIREMENT PLANS AND TRUST FUNDS
on writ of certiorari to the united states court of appeals for the ninth circuit
[February 27, 2013]
Justice Alito, concurring.
I join the opinion of the Court with the understanding that the petitioners did not ask us to revisit Basic’s fraud-on-the-market presumption. See Basic Inc. v. Levinson, 485 U. S. 224 (1988) . As the dissent observes, more re- cent evidence suggests that the presumption may rest on a faulty economic premise. Post, at 4, n. 4 (opinion of Thomas, J.); see Langevoort, Basic at Twenty: Rethinking Fraud on the Market, 2009 Wis. L. Rev. 151, 175–176. In light of this development, reconsideration of the Basic presumption may be appropriate.