News & Analysis as of

Securities Fraud American Pipe & Construction Co. v. Utah

Cadwalader, Wickersham & Taft LLP

Securities Litigation Update: Courts of Appeals Weigh in on American Pipe Tolling and the Affiliated Ute Presumption of Reliance

The Third Circuit extended American Pipe tolling to the period before a decision on class-certification, opening a new avenue for potential class members to assert otherwise untimely individual securities claims.  The Ninth...more

Hinshaw & Culbertson LLP

American Pipe Clarified: Statute of Limitations for Class Actions not tolled by a Prior Motion for Class Certification

In a unanimous decision, the United States Supreme Court held on June 11, 2018 that a pending motion for class certification does not toll the statute of limitations for the filing of a new class action lawsuit by a putative...more

Bracewell LLP

In Securities Case, U.S. Supreme Court Curbs Successive Class Actions

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Last week, the United States Supreme Court reigned in plaintiffs’ ability to file new class action suits outside the statute of limitations. The Court decided in China Agritech that, following denial of class...more

Pillsbury Winthrop Shaw Pittman LLP

The Supreme Court Narrows Its Holding in American Pipe & Construction Co. v. Utah

The U.S. Supreme Court bars previously absent class members from bringing subsequent class actions outside the applicable limitations period. The Supreme Court’s decision in China Agritech, Inc. v. Resh cements a new limit...more

Jones Day

U.S. Supreme Court: Plaintiffs May Not Piggyback Successive Class Actions Beyond Statute of Limitations

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When does time run out on filing a class action? Under the U.S. Supreme Court's seminal decisions in American Pipe & Construction Co. v. Utah and Crown, Cork & Seal Co. v. Parker, a timely class complaint tolls the statute of...more

BakerHostetler

SCOTUS: American Pipe Tolling Does Not Apply to Successive Class Actions

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The Supreme Court held unanimously on June 11 that American Pipe tolling does not apply to successive class actions brought outside the statute of limitations. The case, China Agritech v. Resh, resolves a circuit split over...more

Moore & Van Allen PLLC

U.S. Supreme Court Says “No” to Plaintiff Attempts to File Repetitive Class Actions After Statute of Limitations Has Run Out

Moore & Van Allen PLLC on

It is easy to overgeneralize the outcome of a legal dispute as pro-plaintiff or pro-defendant to paint a picture of which way a court is leaning and who is finding favor. This week, the U.S. Supreme Court issued its second...more

Dechert LLP

Supreme Court Limits American Pipe Tolling for Successive Class Actions

Dechert LLP on

In China Agritech, Inc. v. Resh, the Supreme Court of the United States held that the filing of a class action complaint does not toll a statute of limitations period for later-filed class actions raising the same claims. The...more

King & Spalding

U.S. Supreme Court Holds American Pipe Does Not Permit Repeat Filing of Class Claims After Limitations Period

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The United States Supreme Court’s June 11, 2018 decision in China Agritech, Inc. v. Resh, clarified the scope of a decades-old equitable tolling rule for class actions, holding that the Court’s 1974 opinion in American Pipe &...more

Jackson Walker

Supreme Court Holds That American Pipe Tolling Does Not Apply to Successive Class Actions

Jackson Walker on

Justice Ginsburg delivered the opinion of the Court in China Agritech, Inc. v. Resh, No. 17-342, in which Chief Justice Roberts and Justices Kennedy, Thomas, Breyer, Alito, Kagan, and Gorsuch joined. Justice Sotomayor filed...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

SCOTUS Rules Equitable Tolling Does Not Save Successive Class Action Lawsuits

On June 11, 2018, the Supreme Court of the United States issued a landmark decision in China Agritech, Inc. v. Resh, addressing a split in the federal circuit courts of appeal, arising from differing applications of the...more

Akin Gump Strauss Hauer & Feld LLP

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

Carlton Fields

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

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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

Carlton Fields

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

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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

Carlton Fields

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

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

Wilson Sonsini Goodrich & Rosati

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

Carlton Fields

No Repose for Debate on Applicability of American Pipe Tolling

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

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.15.16

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The 2d Circuit’s nixed a bid by investment fund SRM Global Master Fud LP to revive its $200 million securities fraud suit against Bear Stearns and Deloitte over alleged lies about Bear’s pre-collapse financial health. The...more

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