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Statute of Limitations

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -

Pennsylvania Federal Court Finds Continuing Violations Doctrine Applicable To RESPA Claims

by Carlton Fields on

A Pennsylvania federal court applied the continuing violations theory to RESPA’s one-year statute of limitations, and allowed Plaintiffs leave to amend their complaint to modify their RESPA claim....more

Appellate Court Notes

by Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: - SC19799 - Middlebury v. Connecticut Siting Council Neighbors unsuccessfully challenged the modification of an approval for a new power plant before the Siting Council claiming...more

Amendment Adds Clarity to Florida's Construction Statutes of Limitations and Repose

by Rumberger Kirk & Caldwell on

On June 14, 2017, Florida’s Governor signed into law House Bill 377, which seeks to provide clarity to when Florida’s construction statutes of limitations and repose begin to run. The existing version of the statute, §...more

District Court Rebuffs CFPB’s RESPA “Continuing Violations” Theory

by Foley & Lardner LLP on

On June 6, 2017, a federal district court in Menichino v. CitiBank rejected an interpretation of the RESPA Section 8 statute of limitations espoused by the CFPB in captive reinsurance cases, instead concluding that RESPA’s...more

Implications of the Supreme Court's Kokesh Decision

by WilmerHale on

Earlier this month, the Supreme Court ruled unanimously in Kokesh v. SEC that a claim for disgorgement arising from the violation of federal securities law constitutes a “penalty” for purposes of the general statute of...more

Kerfuffle on statute of limitations issue in PHH case

by Ballard Spahr LLP on

On June 7, the CFPB submitted a Rule 28(j) letter to the D.C. Circuit in the PHH case. In the letter, the CFPB embraced the fact that the Supreme Court’s recent Kokesh v. SEC decision makes the five-year statute of...more

Supreme Court Deals Major Blow to SEC Disgorgement Claims in Kokesh

by Baker Donelson on

The U.S. Securities and Exchange Commission (SEC) may now only collect disgorgement from defendants within five years of filing suit. On June 5, the United States Supreme Court ruled unanimously that the five-year statute of...more

Next Stop the Supreme Court?: Circuit Court Extends American Pipe Tolling to Preserve Class Claims

by Carlton Fields on

The Ninth Circuit recently held that plaintiffs whose claims were tolled during the pendency of two class actions were not time-barred from bringing a third related putative class action when the first two classes were not...more

Reflections on Kokesh v. SEC: Potential Ramifications of SEC Disgorgement Being a Penalty

by King & Spalding on

In the week since the Supreme Court’s unanimous decision in Kokesh v. SEC, which rejected the Securities and Exchange Commission’s longstanding position that disgorgement was an equitable remedy not subject to the five-year...more

Standing in the Shoes of a Suspended Corporation under California Law

A California Court of Appeal recently provided a reminder that under Code of Civil Procedure § 368, assignment of a right to recover money or other personal property (“a thing in action”) is subject to any defense existing at...more

Georgia Court of Appeals Affirms Dismissal of Georgia Patronage Capital Lawsuits

The Georgia Court of Appeals has affirmed the dismissal of two class action patronage capital lawsuits against Oglethorpe Power Corporation, Georgia Transmission Corporation (GTC), and certain distribution electric membership...more

In Rare Victory for Corporations, Supreme Court Limits SEC Power with Significant Implications for FCPA Settlements

by Blank Rome LLP on

Action Item: Last week’s Supreme Court of the United States decision in Kokesh v. SEC will significantly limit the Securities and Exchange Commission’s (“SEC”) ability to collect disgorgement for violations of the Foreign...more

Michigan Supreme Court Clarifies Application of the Statute of Limitations to Shareholder Oppression Claims

by Dickinson Wright on

In the recent case of Frank v Linkner, ___ Mich ___; ___ NW2d ___ (2017), the Michigan Supreme Court clarified that a claim for member oppression under Michigan’s Limited Liability Company Act (“LLCA”), MCL 450.4101 et seq.,...more

Limiting SEC Disgorgement Unanimous Supreme Court Draws a Bright Line Five-Year Rule

by BakerHostetler on

The Supreme Court held unanimously last week in Kokesh v. Securities and Exchange Commission, No. 16—529 (2017), that the Securities and Exchange Commission’s (SEC’s) often used disgorgement remedy was a penalty subject to...more

Appeals of Rulings by The Registrar of Contractors Must Be Timely Filed in Superior Court.

by Snell & Wilmer on

Recently in Johnson v. Arizona Registrar of Contractors, the Arizona Court of Appeals affirmed dismissal of a homeowner’s late appeal of an adverse decision by the Registrar of Contractors (“Registrar”)...more

Kokesh v. SEC: Supreme Court Reins in SEC’s Powerful Disgorgement Remedy

This week, the Supreme Court in Kokesh v. SEC unanimously held that the Securities and Exchange Commission’s (SEC) equitable disgorgement remedy is subject to a five-year statute of limitations because it is a “penalty”...more

Ninth Circuit Extends American Pipe Tolling to Subsequent Class Actions in Resh v. China Agritech, Inc. (May 24, 2017)

Overruling (or, at least, creatively re-characterizing) its own precedent, the Ninth Circuit held in Resh v. China Agritech, Inc., — F.3d —-, 2017 WL 2261024 (9th Cir. May 24, 2017), that the pendency of an earlier...more

Bridging the Week - June 2017 #2

Diamonds May Be Forever, but US Supreme Court Rules SEC Ability to Seek Disgorgement Limited to Five Years: The United States Supreme Court ruled last week that the Securities and Exchange Commission may only commence...more

If At First You Don’t Succeed: The Ninth Circuit Invites Successive Class Actions By Extending American Pipe Tolling To Absent...

In Resh v. China Agritech, No. 15-5543, 2017 U.S. App. LEXIS 9029 (9th Cir. May 24, 2017), a Ninth Circuit panel held that a pending putative class action in which class certification is ultimately denied tolls the statute of...more

This Week in FCPA-Episode 56

by Thomas Fox on

This week, Jay and I have a wide-ranging discussion on some of the week’s top compliance related stories. We discuss: 1. The Kokesh case at the US Supreme Court is significant for SEC enforcement of the FCPA around profit...more

U.S. Supreme Court Blocks SEC from Imposing Disgorgement beyond Five-Year Statute of Limitations

Our colleague Rebecca Zeidel just published a terrific blog posting on the U.S. Supreme Court’s recent decision in Kokesh v. SEC, in which the Court imposed a five-year statute of limitations on agency-sought disgorgement in...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Chairman Clayton continued to build the senior staff this week, appointing Acting Enforcement Division Director Stephanie Avakian and Sullivan and Cromwell partner Steven Peikin as Co-Directors of the Division of Enforcement....more

U.S. Supreme Court Rules That SEC Disgorgement Is Subject to a Five-Year Limit

The U.S Securities and Exchange Commission (SEC) has frequently used disgorgement as a tool to strip wrongdoers of ill-gotten gains. The aim of disgorgement is to return the wrongdoer to the position he or she was in before...more

SEC’s Negotiating Power Curbed - U.S. Supreme Court holds disgorgement subject to a five-year statute of limitations

Earlier this week, the U.S. Supreme Court resolved a circuit split among the Tenth and Eleventh Circuit Courts of Appeals by holding that because disgorgement in a Securities and Exchange Commission (SEC) enforcement action...more

Supreme Limits:  Kokesh v. SEC Imposes a 5-Year Limit on Disgorgement Claims

On June 5, 2017, the U.S. Supreme Court unanimously ruled that claims by the Securities and Exchange Commission seeking disgorgement must be commenced within five years of accrual. The ruling, which resolved a circuit split,...more

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