Setting the tone for a wave of suits looming on the horizon, the U.S. Supreme Court this week deliberated on some of the issues related to retirement plan investors who have tried to sue for lower-than-promised returns and alleged market manipulations.
On Monday, justices addressed the merits of a class-action suit launched by the multi-billion-dollar Connecticut public employee retirement system against Amgen Inc., a Thousand Oaks, Calif.-based biotechnology firm.
The pension fund and other investors have taken aim at Amgen, claiming that the company witheld information regarding the safety of two of its new medications, and that once the information was revealed, stock prices plummeted.
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