The Supreme Court Clarifies Securities Act Statute of Repose Not Tolled by Filing of Class Action

In a bout of déjà vu, the Supreme Court decided to hear California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. to settle the issue of whether the Securities Act of 1933’s (the “Securities Act”) three-year statute of repose is subject to tolling.[1] On June 26, 2017, the Supreme Court made the following noteworthy and defendant-friendly holdings:

Filed under:
USA, Capital Markets, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Kane Russell Coleman Logan PC, Security (finance), Class action, Statute of limitations, Securities Act 1933 (USA)
Authors:
Vienna Flores
Location:
USA
Firm:
Kane Russell Coleman Logan PC