High Court Hears Oral Argument In Shareholder Derivative Suits Appeal

WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 29 heard oral arguments in a shareholder derivative suit appeal seeking a determination of whether the two-year statute of limitations for bringing an action under Section 16(b) of the Securities Exchange Act of 1934 is subject to tolling (Credit Suisse Securities [USA] LLC, et al. v. Vanessa Simmonds, No. 10-1261, U.S. Sup.; See November 2011, Page 26). Full story on lexis.com