Amgen Inc. v. Harris

Case Updates

The Supreme Court granted the petition, reversed the judgment of the Ninth Circuit, and remanded the case for further proceedings.

The U.S. Chamber supported a petition for writ of certiorari pertaining to employee stock ownership plans. The brief argued that the Ninth Circuit failed to apply Fifth Third Bancorp v. Dudenhoeffer and urged the Supreme Court to summarily reverse the Ninth Circuit’s judgment or to grant certiorari to reject the Ninth Circuit’s importation of the “fraud-on-the-market” presumption of reliance from securities litigation into ERISA litigation.

The Pharmaceutical Research and Manufacturers of America filed this brief jointly with the Chamber.

George T. Conway III of Wachtell, Lipton, Rosen & Katz served as counsel for the amici.