News & Analysis as of

Statute of Repose

U.S. Supreme Court Holds that the Filing of a Class Action Does Not Toll the Securities Act’s Statute of Repose

In a 5-4 decision, issued during the final week of the its term, the U.S. Supreme Court held that the filing of a class action does not toll the three-year period provided for in Section 13 of the Securities Act of 1933....more

Supreme Court Holds That Securities-Law Statutes of Repose Are Not Subject to Class-Action Tolling

by Proskauer Rose LLP on

The U.S. Supreme Court ruled today that the pendency of a securities class action does not allow individual class members to opt out of the class and file separate actions under the Securities Act of 1933 more than three...more

Supreme Court Rejects Tolling Argument for Nonnamed Class Members’ Section 11 Claims

by Foley & Lardner LLP on

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (No. 16-373), holding that tolling does not apply, when a class action is pending, to...more

Supreme Court Upholds Strict Time Limit for Securities Actions

by Goodwin on

On June 26, 2017, the Supreme Court issued a decision in the closely watched case of California Public Employees’ Retirement System v. ANZ Securities, Inc., holding that claims under Section 11 of the Securities Act of 1933...more

Supreme Court Rules That Equitable Tolling Does Not Apply to Section 13 of the Securities Act

In one of the first cases argued before new Justice Neil Gorsuch, the Supreme Court in California Public Employees’ Retirement System v. ANZ Securities, Inc. (CalPERS), No. 16-373, slip op. at 16-17 (June 26, 2017), decided...more

Supreme Court Limits The Time For Filing SA §11 Suits

by Dorsey & Whitney LLP on

The Supreme Court concluded that the three year limitation period applicable to Securities Act Section 11 claims cannot be extended or tolled. California Public Employees’ Retirement System v. Anz Securities, Inc., No. 16-373...more

Supreme Court Decides California Public Employees' Retirement System v. ANZ Securities, Inc., No. 16-373

by Faegre Baker Daniels on

On June 26, 2017, the United States Supreme Court decided California Public Employees’ Retirement System v. ANZ Securities, Inc., No. 16-373, holding that the three-year statute of repose in the Securities Act of 1933 cannot...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

Georgia, Tennessee, and Texas Statutes of Repose Limit IVC Filter Cases in Different Ways

by Reed Smith on

In the annals of history, June 6 gets prime billing. That’s understandable, because the successful Normandy landings on D-Day (June 6, 1944), probably saved Western Civilization. (Or maybe that heroic endeavor simply...more

Under Construction - June 2017

by Snell & Wilmer on

Welcome to the summer 2017 edition of our Under Construction newsletter. In this issue, to accompany the summer heat, we highlight several hot topic items affecting the construction industry, such as the recent revisions to...more

Update: Briefs Filed in CalPERS v. ANZ Securities

The Supreme Court is set to hear arguments on Monday in CalPERS v. ANZ Securities. Previously we provided a comprehensive overview of CalPERS’s brief. In anticipation of oral arguments, below we discuss the arguments raised...more

Montana Supreme Court Rules That Statute of Repose Is an Absolute Bar to Claims and Cannot be Tolled for Any Reason, Including...

by Pepper Hamilton LLP on

Hill County High School District No. A v. Dick Anderson Construction, Inc., 2017 Mont. LEXIS 38 (Mt. Feb 7, 2017) - This action arose out of the design and construction of a new roof for a high school in Hill County,...more

Briefs Filed in CalPERS v. ANZ Securities

On February 27, 2017, the California Public Employees’ Retirement System (“CalPERS”) filed its brief with the Supreme Court, requesting that the Court reverse the decision of the Second Circuit and abrogate the Second...more

Statute of Repose Bill Passes House of Representatives

by Davis Brown Law Firm on

On Tuesday, March 21, the Iowa House passed House File 3 (HF3), a bill that would reduce the Statute of Repose applicable to construction claims. The bill is now on to Governor Branstad....more

Iowa Senate Passes Bill Reducing Statute of Repose

by Davis Brown Law Firm on

On Wednesday, March 8, the Iowa Senate passed Senate File 413 (SF413), a bill that would reduce the Statute of Repose applicable to construction claims. This bill is now under discussion in the Iowa House (HF3)....more

Southern District Of New York Dismisses Securities Fraud Claims As Time-Barred And Inadequately Pleaded

by Shearman & Sterling LLP on

On February 27, 2017, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action brought on behalf of purchasers of Wal-Mart de...more

Statute of Repose Bars Maryland Claims Arising From Exposure to Contaminated Fill

by Beveridge & Diamond PC on

Exemplifying the power of the statute of repose as a defense to claims based on decades-old conduct under Maryland law, the Fourth Circuit held that claims stemming from hazardous improvements to real property were barred by...more

No Exception for Latent Disease in N.C. Statute of Repose

by Beveridge & Diamond PC on

Highlighting an area of unsettled law in North Carolina toxic tort litigation, a federal district court in the Eleventh Circuit held that the pre-2014 North Carolina statute of repose contained no exception for latent...more

Bass, Berry & Sims Releases Securities & Shareholder Litigation 2017: A Look Ahead

by Bass, Berry & Sims PLC on

Bass, Berry & Sims PLC announces the release of its annual "Securities & Shareholder Litigation 2017: A Look Ahead," a high-level report that covers recent developments and offers best practices for the year ahead. The newly...more

"Inside the Courts: An Update from Skadden Securities Litigators - February 2017 / Volume 9 / Issue 1"

We are pleased to present Inside the Courts (Volume 9, Issue 1), Skadden’s securities litigation newsletter. This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between...more

"Near-Record Securities Litigation Filings Show No Signs of Slowing"

Plaintiffs filed 300 securities class actions in 2016 — a mark much higher than the annual average of 221 from 2011 to 2015 (as reported by NERA Economic Consulting). Indeed, the number of filings in 2016 was the...more

Supreme Court to Hear Class Action Cases Involving Class Action Waivers and Tolling of Statutes of Limitations

The U.S. Supreme Court recently granted certiorari in class action cases involving: (1) class action waivers in employment contracts; and (2) whether filing of a securities class action tolled a statute of repose. In both...more

Under Construction - December 2016

by Snell & Wilmer on

Welcome to the winter 2016 edition of our Under Construction newsletter. We hope your year has been good to your family, your company and you as we wrap up these remaining few weeks of 2016. A recent hot topic with...more

Revised Uniform Unclaimed Property Act Finalized for State Enactment—Legislative Drafting Notes and Interpretative Comments Added ...

by McDermott Will & Emery on

The fourth iteration of a uniform unclaimed property act—entitled the Revised Uniform Unclaimed Property Act (RUUPA or Act)—has been finalized by the Uniform Law Commission for state enactment. The new Prefatory Note,...more

Ohio Supreme Court Rules Medical Malpractice Lawsuits Must Be Filed Within Four Years of Claimed Injury

by Reminger Co., LPA on

Reminger Co., L.P.A. is pleased to announce that it successfully persuaded the Ohio Supreme Court to reverse the Eighth District Court of Appeals, in the case of Antoon v. Cleveland Clinic, Slip Opinion No. 2016-Ohio-7432. ...more

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