Workers' class action against Amgen is reinstated

06/6/2013 | National Law Journal (free registration), The

The U.S. Court of Appeals for the 9th Circuit has reinstated a class-action case against Amgen over the loss in value that employees say their retirement accounts suffered after revelations regarding the company's off-label marketing. "We conclude that the presumption of prudence does not apply, and that, in the absence of the presumption, plaintiffs have sufficiently alleged violation of the defendants' fiduciary duties," wrote Judge William Fletcher.

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