SCOTUS To Hear Major Securities Class Action Case

The U.S. Supreme Court will revisit American Pipe & Construction Co. v. Utah, which could decide a question on the statute of limitations for securities class actions, Law360 reports. 

The Supreme Court previously ruled in American Pipe that the filing of a new class action suspends the statute of limitations for members who intervene after class certification is denied. The Court will now decide whether the American Pipe case allows unnamed class members from previously failed suits to borrow the suspended statute of limitations time.

The new case is China Agritech Inc. v. Michael Resh. Oral arguments begin today.