Statute of Limitations, Class Action, Opt-Outs

U.S. District Court Holds that Certain Claims by Opt-Out Plaintiffs Are Barred by the Statute of Repose

Mintz - Securities Litigation Viewpoints on 10/10/2018

In a recent ruling in In re: BP p.l.c. Securities Litigation the United States District Court for the Southern District of Texas dismissed claims asserted by opt-out plaintiffs as time barred by the Exchange Act’s statute of...more

Ninth Circuit Champions FAA Preemption Over Georgia Decision

Ballard Spahr LLP on 10/1/2018

While the U.S. Court of Appeals for the Ninth Circuit has often found that state limitations on arbitration agreements are not in conflict with the Federal Arbitration Act (FAA), a recent ruling there confirms that...more

Supreme Court Decision Imposes Strict Filing Deadline on Civil Actions Related to Securities Offerings

Eversheds Sutherland (US) LLP on 8/25/2017

On June 26, 2017, the United States Supreme Court issued its opinion on California Public Employees’ Retirement System v. ANZ Securities, Inc., No. 16-373, ruling that actions involving securities offerings and sales are...more

SCOTUS Upholds Strict Statute of Repose on Federal Section 11 Securities Claims

Perkins Coie on 7/11/2017

In a 5-4 decision in California Public Employees’ Retirement System (CalPERS) v. ANZ Securities, Inc., et al. (No. 16-373), 582 U.S. ___ (2017), the U.S. Supreme Court upheld, at the end of last month, a U.S. Court of Appeals...more

Tolling Securities Claims: “In No Event” Means ... What It Says

Latham & Watkins LLP on 7/11/2017

US Supreme Court: Securities Act’s 3-year statute of repose is not subject to equitable tolling, providing greater certainty to underwriters. Key Points: ..Case has significant implications for financial Institutions...more

Supreme Court Intensifies Timing Pressure on Federal Securities Claimants

Benesch on 7/3/2017

It is not uncommon for unnamed class members to opt out of the class when securities class actions veer toward settlement. They might deem the proposed settlement inadequate, and would prefer at that point to go it alone,...more

The Supreme Court Holds Statute of Repose Cannot Be Equitably Tolled

Akin Gump Strauss Hauer & Feld LLP on 7/1/2017

Securities defendants can rest easier after the Supreme Court’s decision to strictly construe certain statutory time limits under the Securities Act of 1933. On June 26, 2017, the Court issued its opinion in California Public...more

Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

Kramer Levin Naftalis & Frankel LLP on 6/30/2017

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (“CalPERS”) (No. 16–373, 2017 WL 2722415) (U.S. June 26, 2017), holding that the...more

US Supreme Court Holds that 3-Year Time Limit to Challenge Registration Statements Cannot Be Tolled, Precluding Opt-Out Plaintiffs...

Dechert LLP on 6/28/2017

Officers, directors, and underwriters frequently become targets of securities fraud litigation after a public offering. In a landmark case decided yesterday, the U.S. Supreme Court provides defendants with another tool to...more

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