Matrixx Initiatives, Inc. v. Siracusano

Matrixx Initiatives, Inc. v. Siracusano
Argued January 10, 2011
Decided March 22, 2011
Full case nameMatrixx Initiatives, Inc., et al. v. Siracusano, et al.
Docket no.09-1156
Citations563 U.S. 27 (more)
131 S. Ct. 1309; 179 L. Ed. 2d 398
Case history
PriorMotion to dismiss granted, No. 2:04-cv-00886, 2005 WL 3970117 (D. Ariz. Dec. 15, 2005); reversed, 585 F.3d 1167 (9th Cir. 2009); cert. granted, 560 U.S. 964 (2010).
Holding
9th Circuit Affirmed
Court membership
Chief Justice
John Roberts
Associate Justices
Antonin Scalia · Anthony Kennedy
Clarence Thomas · Ruth Bader Ginsburg
Stephen Breyer · Samuel Alito
Sonia Sotomayor · Elena Kagan
Case opinion
MajoritySotomayor, joined by unanimous
Laws applied
Securities Exchange Act of 1934

Matrixx Initiatives, Inc. v. Siracusano, 563 U.S. 27 (2011), is a decision by the Supreme Court of the United States regarding whether a plaintiff can state a claim for securities fraud under §10(b) of the Securities Exchange Act of 1934, as amended, 15 U.S.C. §78j(b), and Securities and Exchange Commission Rule 10b-5, 17 CFR §240.10b-5 (2010), based on a pharmaceutical company's failure to disclose reports of adverse events associated with a product if the reports do not find statistically significant evidence that the adverse effects may be caused by the use of the product. In a 9–0 opinion delivered by Justice Sonia Sotomayor, the Court affirmed the Court of Appeals for the Ninth Circuit's ruling that the respondents, plaintiffs in a securities fraud class action against Matrixx Initiatives, Inc., and three Matrixx executives, had stated a claim under §10(b) and Rule 10b-5.[1]

  1. ^ Cite error: The named reference 09-1156 was invoked but never defined (see the help page).

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