Amgen Inc. v. Connecticut Retirement Plans and Trust Funds
568 U.S. ___ (2013)

Annotate this Case

SUPREME COURT OF THE UNITED STATES

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No. 11–1085

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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.

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