Decided
Matrixx Initiatives, Inc. v. Siracusano
Holding
The plaintiffs have stated a claim for securities fraud under " 10(b) of the Securities and Exchange Act and SEC Rule 10b-5 based on a pharmaceutical company's failure to disclose reports of adverse events associated with a product, even if the reports do not disclose a statistically significant number of adverse events.
Plain English Holding
A drug company’s failure to make public reports of adverse drug reactions can constitute securities fraud, even if the number of adverse reactions is not statistically significant.
Judgment
Affirmed., 9-0, in an opinion by Sonia Sotomayor on Mar 22, 2011.
Merits Briefs
- Brief for Petitioner Matrixx Initiatives, Inc., et al.
- Brief for Respondent James Siracusano and NECA-IBEW Pension Fund
- Reply Brief for Petitioner Matrixx Initiatives, Inc., et al.
Amicus Briefs
- Brief for the Consumer Healthcare Products Association and the Council for Responsible Nutrition in Support of Petitioner
- Brief for the Securities Industry and Financial Markets Association and the Chamber of Commerce of the United States of America in Support of Petitioner
- Brief for the Product Liability Advisory Council in Support of Petitioner
- Brief for the National Products Association in Support of Petitioner
- Brief for DRI-The Voice of the Defense Bar in Support of Petitioner
- Brief for BayBio in Support of Petitioner
- Brief for Pharmaceutical Research and Manufacturers of America and Biotechnology Industry Organization in Support of Petitioner
- Brief for the Advanced Medical Technology Association in Support of Petitioner
- Brief for the Washington Legal Foundation in Support of Petitioner
- Brief for the United States in Support of Respondent
- Brief for Professors at Law and Business Schools in Support of Respondent
- Brief for Economists Robert E. Litan and Joseph R. Mason in Support of Respondent
- Brief for AARP and the North American Securities Administrators Association, Inc., in Support of Respondent
- Brief for Statistics Experts Professors Dierdre M. McCloskey and Stephen T. Ziliak in Support of Respondent
Certiorari-Stage Documents
- Opinion below (9th Circuit)
- Petition for certiorari (unavailable)
- Brief in opposition (unavailable)
- Petitioners’ reply (unavailable)
Related Coverage
Mar 23, 2010Petition for a writ of certiorari filed. (Response due April 23, 2010)
Mar 31, 2010Waiver of right of respondents James Siracusano, et al. to respond filed.
Apr 7, 2010DISTRIBUTED for Conference of April 23, 2010.
Apr 14, 2010Response Requested . (Due May 14, 2010)
May 13, 2010Brief of respondents James Siracusano, and NECA-IBEW Pension Fund
in opposition filed.
May 25, 2010DISTRIBUTED for Conference of June 10, 2010.
May 25, 2010Reply of petitioners Matrixx Initiatives, Inc., et al. filed. (Distributed)
Jun 14, 2010Petition GRANTED.
Jul 2, 2010The time within which to file the joint appendix and petitioners' brief on the merits is extended to and including August 13, 2010.
Jul 19, 2010The time within which to file the joint appendix and petitioners' brief on the merits is further extended to and including August 20, 2010.
Jul 28, 2010Consent to the filing of amicus briefs, in support of either party or of neither party, received from counsel for the respondents.
Jul 30, 2010Consent to the filing of amicus briefs, in support of either party or of neither party, received from counsel for the petitioner.
Aug 20, 2010Brief of petitioners Matrixx Initiatives, Inc., et al. filed.
Aug 20, 2010Joint appendix filed. (Statement of costs filed)
Aug 27, 2010Brief amici curiae of Consumer Healthcare Products Association and the Council for Responsible Nutrition filed.
Aug 27, 2010Brief amicus curiae of Natural Products Association filed.
Aug 27, 2010Brief amicus curiae of DRI - The Voice of the Defense Bar filed.
Aug 27, 2010Brief amicus curiae of BayBio filed.
Aug 27, 2010Brief amicus curiae of Product Liability Advisory Council, Inc. filed.
Aug 27, 2010Brief amicus curiae of Advanced Medical Technology Association filed.
Aug 27, 2010Brief amici curiae of Pharmaceutical Research and Manufacturers of America, et al. filed.
Aug 27, 2010Brief amici curiae of Securities Industry and Financial Markets Association, et al. filed.
Aug 27, 2010Brief amicus curiae of Washington Legal Foundation filed.
Sep 9, 2010The time within which to file the respondent's brief on the merits is extended to and including November 5, 2010.
Nov 5, 2010Brief of respondents James Siracusano, et al. filed. (Distributed)
Nov 8, 2010SET FOR ARGUMENT ON Monday, January 10, 2011.
Nov 12, 2010CIRCULATED.
Nov 12, 2010Brief amicus curiae of the United States filed. (Distributed)
Nov 12, 2010Motion of the Acting Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument filed.
Nov 12, 2010Brief amici curiae of Economists Robert E. Litan and Joseph R. Mason filed. (Distributed)
Nov 12, 2010Brief amici curiae of Medical Researchers Dr. Tonia M. Young-Fadok, et al. filed. (Distributed)
Nov 12, 2010Brief amicus curiae of Professors at Law and Business Schools filed. (Distributed)
Nov 12, 2010Brief amici curiae of AARP and North American Securities Administrators Association, Inc., et al. filed. (Distributed)
Nov 12, 2010Brief amici curiae of Statistics Experts Professors Deidre N. McCloskey and Stephen T. Ziliak filed.
Nov 29, 2010Application (10A545) to extend the time to file a reply brief on the merits submitted to Justice Kennedy.
Dec 2, 2010Application (10A545) granted by Justice Kennedy extending the time to file the reply brief on the merits until December 13, 2010.
Dec 2, 2010Record received from U.S.C.A. for 9th Circuit. (1 envelope)
Dec 6, 2010Motion of the Acting Solicitor General for leave to participate in oral argument as amicus curiae and for divided argument GRANTED.
Dec 13, 2010Reply of petitioners Matrixx Initiatives, Inc., et al. filed. (Distributed)
Dec 15, 2010Record received from U.S.D.C. for the District of Arizona (Phoenix). (1 box)
Jan 10, 2011Argued. For petitioners: Jonathan Hacker, Washington, D. C. For respondents: David C. Frederick, Washington, D. C.; and Pratik A. Shah, Assistant to the Solicitor General, Department of Justice, Washington, D. C. (for United States, as amicus curiae.)
Mar 22, 2011Adjudged to be AFFIRMED. Sotomayor, J., delivered the opinion for a unanimous Court.
Apr 25, 2011JUDGMENT ISSUED.
Jun 10, 2011Record returned to U.S.D.C. for the Distirct Arizona. (Phoenix)
Recommended Citation: Matrixx Initiatives, Inc. v. Siracusano, SCOTUSblog, https://www.scotusblog.com/cases/matrixx-initiatives-inc-v-siracusano/