News & Analysis as of

American Pipe & Construction Co. v. Utah

For Whom the Class Action Tolls: American Pipe to be Revisited

by Polsinelli on

The United States Supreme Court recently granted certiorari in a significant case that will test the limits of class action tolling. Since 1974, federal courts have held that the filing of a class action tolls the statute...more

U.S. Supreme Court To Rule On Application Of American Pipe Tolling Decision On Class Actions

by Jackson Lewis P.C. on

Earlier this month, the U.S. Supreme Court granted certiorari to China Agritech, Inc., a fertilizer manufacturer, from the Ninth Circuit’s decision in Resh v. China Agritech, Inc., 857 F.3d 994 (9th Cir. 2017). In reviewing...more

For Whom the Pipe Tolls: SCOTUS to Decide Whether American Pipe Tolling Applies to “Piggyback” Class Actions

Federal courts generally agree that when certification of a class action is denied or the case is dismissed, the statute of limitations on the claim asserted on behalf of the would-be class is deemed to have been tolled...more

The U.S. Supreme Court to Clarify the Application of American Pipe Tolling to Class Actions

• The U.S. Supreme Court granted a certiorari petition filed by China Agritech from the 9th Circuit’s decision in Resh v. China Agritech, Inc., 857 F.3d 994 (9th Cir. 2017). The Court will clarify whether its landmark ruling...more

The Supreme Court - December 11, 2017

by Dorsey & Whitney LLP on

On Friday, the Supreme Court granted certiorari and agreed to hear arguments in seven cases: China Agritech, Inc. v. Resh, No. 17-432: Whether the rule from American Pipe and Construction Co. v. Utah, 414 U.S. 538 (1974),...more

Supreme Court Agrees to Decide Whether Statute of Limitations Bars Successive Class Actions

by Ballard Spahr LLP on

In China Agritech, Inc. v. Resh, the U.S. Supreme Court has agreed to decide an important and recurring class action issue that has divided the courts of appeals—does the tolling of the statute of limitations for class...more

Seventh Circuit: American Pipe Tolling Stops When A Class Action Is Dismissed – With Or Without Prejudice – Before A Class Is...

Takeaway: In Collins v. Village of Palatine, Ill., — F.3d —, 2017 WL 5490819, at *1 (7th Cir. November 16, 2017), the Seventh Circuit announced a “simple and uniform” rule for determining when a once-tolled statute of...more

Sixth Circuit Litigants Beware: Exiting The American Pipe Highway Can Forfeit Your Toll

by Carlton Fields on

Classified contributors have blogged numerous times (including several times this year) on opinions that tested the boundaries of American Pipe tolling, including those that addressed whether the doctrine applies to claims...more

September 2017: U.S. Supreme Court Holds That American Pipe “Tolling” Does Not Apply to Statute of Repose for Securities Act...

In California Public Employees’ Retirement System v. ANZ Securities, Inc., 137 S. Ct. 2042 (2017) (“CalPERS”), the Supreme Court resolved a longstanding circuit split by holding that the class action “tolling” principle set...more

Supreme Court Asked to Resolve Circuit Split Over Applicability of American Pipe Tolling to Successive Class Actions

by Carlton Fields on

We previously blogged on whether the Supreme Court’s ruling in American Pipe applies to toll the statute of limitations for successive putative class actions. In Resh v. China Agritech, Inc., the Ninth Circuit held that...more

Third Circuit Follows ANZ Securities Decision and Reverses for Dismissal of Exchange Act Claims as Untimely

by Carlton Fields on

On June 28, 2017, Bruce Berman and Steve Blickensderfer posted in this space about the Supreme Court’s recent decision in California Public Employees Retirement System v. ANZ Securities, Inc., 137 S. Ct. 2042 (2017). In that...more

Highlights From DRI Class Action Seminar 2017 – Day One

I recently had the privilege of serving as vice chair for this year’s Defense Research Institute (DRI) Class Action Seminar. As I’ve done in years past, here are some highlights from the first day’s programming...more

The Supreme Court Indirectly Stiffens A Fiduciary Breach Time Limit And Helps ERISA Fiduciaries In The Process

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Supreme Court appears to have barred equitable tolling under ERISA Section 413’s six-year statute of repose for fiduciary breach claims, subject only to well-pled allegations and proof of fraud or...more

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

by Latham & Watkins LLP on

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

U.S. Supreme Court Rejects Application Of American Pipe Tolling To Statutes Of Repose

Takeaway: In California Public Employees’ Retirement System v. ANZ Securities, Inc., No. 16-373, 2017 WL 2722415 (U.S. June 26, 2017), the Supreme Court issued its closely-watched decision regarding whether the filing of a...more

Supreme Court Intensifies Timing Pressure on Federal Securities Claimants

by Benesch on

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

SCOTUS Holds American Pipe Tolling Does Not Apply to Securities Class Action Opt-Out Claims Filed Outside Repose Period: CalPERS...

by Carlton Fields on

We have blogged about the evolution and application of the American Pipe tolling rule, as further expanded by Crown Cork, many times, most recently following the Ninth Circuit’s Resh decision last month. Under American Pipe,...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

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

Ninth Circuit Expands American Pipe Tolling to Subsequent Securities Class Action by Unnamed Class Members, but Leaves Related...

by Carlton Fields on

The Ninth Circuit in Resh v. China Agritech, Inc., No. 15-55432, 2017 WL 2261024 (9th Cir. May 24, 2017), revived the third successive putative shareholder class action against a fertilizer manufacturer after the district...more

Securities and Structured Finance Litigation Update - March 2017

Continuing Circuit Split Puts “Tolling” of Statutes of Repose Back on U.S. Supreme Court’s Agenda. The U.S. Supreme Court is again set to weigh in on the reach of its decision in American Pipe & Construction Co. v. Utah, 414...more

2016 Securities and M&A Litigation Year in Review

Wilson Sonsini Goodrich & Rosati is pleased to present its 2016 Securities and M&A Litigation Year in Review. This report covers some of the major developments in securities and M&A litigation over the past year....more

The Supreme Court Will Review Whether Putative Class Actions Toll the Statute of Repose for Class Members’ Individual Securities...

by BakerHostetler on

On January 13, 2017, the Supreme Court granted certiorari in California Public Employees’ Retirement System v. ANZ Securities, Inc., No. 16-373 (ANZ Securities), to resolve whether the filing of a putative class action tolls...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

No Repose for Debate on Applicability of American Pipe Tolling

by Carlton Fields on

In its seminal 1974 American Pipe opinion, the Supreme Court held that the commencement of a class action tolls the applicable statutes of limitation as to all putative class members who would have been parties had the class...more

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