Article
U.S. Supreme Court MATRIXX Decision Rejects Statistical Significance As Bright-Line Test Of Materiality
In its unanimous opinion in "Matrixx Initiatives, Inc. v. Siracusano" issued on March 22, the U.S. Supreme Court reaffirmed its long-established standard for determining materiality with respect to securities fraud claims under Section 10(b) of the Securities Exchange Act of 1934 and the SEC's Rule 10b-5.
Hogan Lovells US LLP
