Procedural issues in claims brought under Rule 10b-5.

Central Laborers' Pension Fund v. Integrated Electric Services, Inc., 497 F.3d 546, 553 (5th Cir. 2007).A plaintiff seeking to use allegations of insider trading as support for a strong inference of scienter as required by the Private Securities Litigation Reform Act of 1995 may do so without pleading facts showing the trader's typical trading practices prior to the fraud, if the totality of the allegations demonstrate that the later trading was unusual or suspicious.

In re Xcelera.com Securities Litigation, 430 F.3d 503, 508 (1st Cir. 2005) (affirming class certification order).In order to gain the benefit of the fraud-on-the-market presumption of reliance, a plaintiff must show only that the market was informationally efficient--that is, that the price of the security rapidly reflected all relevant public information--not that the the price of the security ''accurately'' reflected that information.

See Vernon J. Rockler & Co. v. Graphic Enters., Inc., 52 F.R.D. 335, 345-46 (D. Minn. 1971).Where individual issues of reliance under Rule 10b-5 so require, a court can ceritfy a class under Federal Rule of Civil Procedure 23(b)(3) and hold trials on issues of reliance.