News & Analysis as of September 20, 2024

Supreme Court of the United States › CalPERS v ANZ Securities

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The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term. The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -

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

The U.S. Supreme Court Grants Class Defendants’ Petition For Certiorari In Ninth Circuit American Pipe Tolling Case (Resh V. China...

Kilpatrick on 12/14/2017

As we discussed at length last June [Ninth Circuit extends tolling doctrine to allow successive class actions, subject only to preclusion and “comity” defenses], the Ninth Circuit in Resh v. China Agritech, Inc., 857 F.3d...more

Inside the Courts – An Update From Skadden Securities Litigators - September 2017/ Volume 9 / Issue 3

Skadden, Arps, Slate, Meagher & Flom LLP on 9/28/2017

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between May 2017 and August 2017....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

Jones Day’s Review of Business-Related Cases in the Supreme Court’s October Term 2016

Jones Day on 7/25/2017

During what many have labeled a “quiet Term,” the U.S. Supreme Court, working with only eight justices for most of the session, still delivered at least 30 rulings of particular interest to business and industry. These...more

SCOTUS Update: Environmental and Administrative Law Cases Decided in 2017

Pillsbury - Gravel2Gavel Construction & Real... on 7/25/2017

The 2016 Term of the U.S. Supreme Court was fairly quiet, perhaps reflecting the fact that with only eight members, the Court needed a working consensus to handle its docket. The Court handed down seventy rulings, but only a...more

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

Seyfarth Shaw LLP on 7/24/2017

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

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

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

Kilpatrick on 7/7/2017

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

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

U.S. Supreme Court’s ANZ Decision Prohibits Tolling Of The Securities Act Of 1933’s Three -Year Statute Of Repose

King & Spalding on 6/29/2017

The Securities Act of 1933 prevents a securities purchaser from suing over an alleged material misstatement or omission in a registration statement more than three years after the offeringdate. A circuit split developed over...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

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

Carlton Fields on 6/28/2017

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

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Supreme Court of the United States › CalPERS v ANZ Securities

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

The U.S. Supreme Court Grants Class Defendants’ Petition For Certiorari In Ninth Circuit American Pipe Tolling Case (Resh V. China...

Inside the Courts – An Update From Skadden Securities Litigators - September 2017/ Volume 9 / Issue 3

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

Jones Day’s Review of Business-Related Cases in the Supreme Court’s October Term 2016

SCOTUS Update: Environmental and Administrative Law Cases Decided in 2017

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

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

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

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

Supreme Court Intensifies Timing Pressure on Federal Securities Claimants

The Supreme Court Holds Statute of Repose Cannot Be Equitably Tolled

Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

U.S. Supreme Court’s ANZ Decision Prohibits Tolling Of The Securities Act Of 1933’s Three -Year Statute Of Repose

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

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

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

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

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

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

Supreme Court Upholds Strict Time Limit for Securities Actions

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

The Supreme Court - June 26, 2017

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

Update: Briefs Filed in CalPERS v. ANZ Securities

Supreme Court of the United States › CalPERS v ANZ Securities

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