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Securities Exchange Act › Statute of Limitations

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +
The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange Commission (SEC), which is the primary regulatory agency enforcing federal securities laws. less -
Jones Day

2023 Securities Litigation Year in Review

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During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more

Goodwin

Court Dismisses Post-SPAC Class Action for Lack of Standing

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On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: October 1, 2022

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The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

A&O Shearman

Southern District Of New York Dismisses With Prejudice Securities Act Claims For Failure To Allege Actionable Misstatement Or...

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On April 25, 2022, U.S. District Judge Jesse M. Furman dismissed a putative securities class action alleging that a fintech company (the “Company”) misrepresented its internal control weaknesses and financial results in its...more

A&O Shearman

Southern District Of New York Pares Claims In Putative Class Action Against Energy Company

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On March 7, 2022, Judge P. Kevin Castel of the Southern District of New York granted in part and denied in part a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of 1934 against a...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2021

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This quarter’s issue includes summaries and associated court opinions of selected cases decided in August and September 2021. Appraisal Rights - Delaware Supreme Court Enforces Sophisticated Investors’ Waiver of Appraisal...more

Akin Gump Strauss Hauer & Feld LLP

National Defense Authorization Act Boosts SEC’s Disgorgement Authority and Ability to Seek Other Equitable Relief

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Amendments Come on the Heels of Supreme Court Decisions on SEC Disgorgement - On January 1, 2021, Congress passed the National Defense Authorization Act (NDAA). Embedded in the NDAA’s more than 1,400 pages is Section...more

McGuireWoods LLP

Congress Affirms and Extends SEC’s Disgorgement Powers

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On January 1, 2021, the United States Senate joined the House of Representatives in overriding President Trump’s veto, and the National Defense Authorization Act (NDAA) became law. The NDAA was passed chiefly to authorize...more

Faegre Drinker Biddle & Reath LLP

Congress Extending the SEC Statute of Limitations to 10 Years?!!

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Congress recently overrode President Trump’s veto of the $740 billion 2021 National Defense Authorization Act (“NDAA”) and signed it into law. While the focus of the NDAA is not on the U.S. Securities and Exchange Commission...more

Troutman Pepper

Congress Passes Law Expanding the SEC's Ability to Seek Disgorgement

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On Friday January 1, with the Senate’s floor vote to override the president’s veto, Congress passed the 60th annual National Defense Authorization Act (NDAA). Encompassed within the $740.5 billion military spending bill is an...more

WilmerHale

Congress Amends Exchange Act, Expanding SEC Enforcement Power

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On January 1, 2021, amendments to Section 21(d) of the Securities Exchange Act of 1934 (Exchange Act) codifying and expanding the power of the Securities and Exchange Commission (SEC or Commission) to obtain disgorgement in...more

Latham & Watkins LLP

US Congress Affirms and Expands SEC’s Disgorgement Authority in Annual Defense Spending Bill

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The legislation - passed via the first congressional override of the Trump presidency - extends the SEC’s ability to obtain disgorgement for violations of federal securities laws. Key Points: ..As amended, the...more

A&O Shearman

Seventh Circuit Vacates Decision To Certify Class, Holding That District Court Must Consider Sufficiency Of Defendants' Evidence...

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On July 16, 2020, the United States Court of Appeals for the Seventh Circuit unanimously vacated the Northern District of Illinois, Eastern Division’s decision to grant class certification to plaintiffs bringing securities...more

A&O Shearman

District Of Connecticut Dismisses Securities Class Action Against A Consumer Financial Services Company, Certain Of Its Officers...

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On March 31, 2020, Judge Victor A. Bolden of the District of Connecticut dismissed a putative securities class action against a provider of private label credit cards (the “Company”), certain of its officers and directors,...more

A&O Shearman

Northern District Of Illinois Sustains But Pares Putative Class Actions Against Pharmaceutical Company

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On February 5, 2020, Judge Matthew F. Kennelly of the United States District Court for the Northern District of Illinois sustained some but not all claims in a putative class action asserting violations of Sections 10(b) and...more

Jones Day

Second Circuit Concludes Commodity Exchange Act Claims Accrue When Plaintiffs Learn Of Their Injuries

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Under the "discovery accrual rule" discovery of the injury starts the clock for statute of limitations purposes. On February 28, 2019, the Second Circuit issued an important decision regarding the statute of limitations...more

A&O Shearman

Exchange Act Claim Survives Because Sarbanes-Oxley's Two Year Statute Of Limitations Extended The Time For Plaintiffs To Initiate...

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On September 14, 2018, United States District Court Judge Michael Shipp of the District of New Jersey declined to dismiss as untimely plaintiffs’ claim against a major pharmaceutical company (the “Company”) and certain of its...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - June 2018

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This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February 2018 and May 2018. ...more

Jackson Lewis P.C.

Supreme Court Hears Argument On Application Of American Pipe Tolling Decision To Subsequent Class Actions

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As discussed on our blog late last year, 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....more

Akin Gump Strauss Hauer & Feld LLP

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

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• 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

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - November 2017/ Volume 9 / Issue 4

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

Skadden, Arps, Slate, Meagher & Flom LLP

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

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

A&O Shearman

SDNY Judge Adheres To Prior Ruling That Discovery Rule Applies To Securities Act Statute Of Limitations

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On July 28, 2017, Judge Victor Marrero of the United States District Court of the Southern District of New York denied a motion for reconsideration of an earlier decision declining to dismiss as untimely a putative class...more

Skadden, Arps, Slate, Meagher & Flom LLP

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

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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

Cadwalader, Wickersham & Taft LLP

The Supreme Court May Review Whether Regulatory Enforcement Actions Seeking Disgorgement are Subject to a Five-Year Statute of...

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Federal regulatory agencies, such as the Securities and Exchange Commission (“SEC”), the Commodity Futures Trading Commission (“CFTC”), and the Federal Energy Regulatory Commission (“FERC”), have the authority to impose...more

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