fbpx
News
June 27, 2017

Supreme Court Upholds Time Limit for Securities Class Actions

Yesterday, in California Employees’ Retirement System v. ANZ Securities the U.S. Supreme Court ruled 5-4 that the filing of a class action does not stop the clock on the three-year statute of repose for claims under the Securities Act.

“Plain and simple, the decision means investors can’t wait more than three years to decide whether to stay in securities class actions,” writes Reuters.

Investors argued that such a requirement would be a waste of time and money, but in the court’s opinion, written by Justice Anthony Kennedy, the majority called investors’ concerns “overstated.”

Podcasts Episode 18: Why Federal Securities Suits Don’t Belong in State Court Securities Litigation Reform Stock data News D&O Diary Looks At 2021 Litigation Trends Securities Litigation Reform News D&O Diary Blog Calls For Congress To Take Up Securities Reforms Proposed In New ILR Briefly Securities Litigation Reform Blog D&O Diary: "Institute for Legal Reform: Congress Should Enact Reforms to Address Cyan" Securities Litigation Reform News In The News-August 16, 2021 Securities Litigation Reform

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings