Case Updates
Sixth Circuit vacates class certification, holding that a securities fraud claim based on both misrepresentations and omissions can merit the Affiliated Ute presumption of reliance only if the mixed case can clear a “high bar” of being primarily based on omissions and that plaintiffs must rigorously analyze a proposed damages model at class certification
August 13, 2025
U.S. Chamber files coalition amicus brief urging Sixth Circuit to reject expansive interpretation of the Affiliated Ute presumption, which undermines the reliance requirement in securities fraud claims, and to remind district courts of their obligation to analyze rigorously a proposed damages model at class certification
February 16, 2024
U.S. Chamber Coalition Amicus Brief
Previously, the Chamber filed a coalition amicus brief supporting Rule 23(f) review.
Deanne E. Maynard, Diana L. Kim, Jordan Eth, James R. Sigel, and David J. Wiener of Morrison & Foerster LLP served as outside counsel.