Conversely, if plaintiffs could import the “fraud on the market” presumption of reliance into non-securities contexts – such as consumer fraud/common-law fraud/warranty litigation against our drug/device clients – an invasion of class actions would follow like night follows day.It’s hardly surprising that, because we don’t want class actions certified against our clients, we’re not big fans of “fraud on the market,” and we want to remain see it… [read post]