U.S. Supreme Court defines the "makers" of statements liable for violating Rule 10b-5, addresses the relationship between statistical significance and materiality in the life sciences context, and limits what a court need find in order to certify a Rule 23(b)(3) class in a Rule 10b-5 securities case. In 2011, the U.S. Supreme Court limited the "makers" of statements who can be liable under Rule 10b-5 to individuals and entities controlling the statements' content and communication.
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