CABA Online 

In Amgen, Inc. v. Conn. Ret. Plans & Trust Funds, a 6-3 decision, a putative class of shareholders of Amgen stock alleged that Amgen committed securities fraud under section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 by misrepresenting the effectiveness and safety of two of its most popular drugs. When the truth regarding the drugs was revealed, the stock price dropped significantly, and shareholders incurred substantial losses.

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