The Supreme Court rejected the SEC's effort to extend the five year statute of limitations for imposing a civil penalty by engrafting a discovery exception onto the statute. Chief Justice Roberts, writing for a unanimous Court, held that under... Read More
The Supreme Court rejected the approaches of two Circuit Courts to tolling the limitation period for bringing an Exchange Act Section 16(b) claim while failing to decide if that period can be tolled. The High Court rejected the conclusion of the Ninth... Read More
In Strategic Diversity, Inc. v. Alchemix Corp. , an opinion marked for publication, the United States Court of Appeals for the Ninth Circuit held that for federal securities fraud claims, the statute of limitations begins to run when a reasonably diligent... Read More
In a result joined by all of the justices, the Supreme Court affirmed the decision of the Third Circuit, concluding that plaintiffs' had timely filed a securities fraud suit against Merck & Co. Merck & Co. v. Reynolds , Case No. 08-905... Read More
Excerpt: The Supreme Court rejected the efforts of the Securities and Exchange Commission ("SEC") effort to extend the five-year statute of limitations for imposing a civil penalty by engrafting a discovery exception onto the statute.... Read More
by Joseph E. Bringman and Ronald Berenstain Perkins Coie experts on Credit Suisse Securities v. Simmonds: U.S. Supreme Court unanimously rejects the 9th Circuit's 30-year-old rule that tolls the statute of limitations for short-swing profit... Read More
The first Monday in October is the opening day of the new Supreme Court term. In recent years the Court has heard a number of securities cases, considering issues regarding class certification in Erica P. John Fund v. Halliburton, 131 S. Ct. 2179 (2011... Read More
On this edition, Alex Bahn of Hogan Lovells discusses the Supreme Court's decision in Credit Suisse Securities (USA) LLC v. Simmonds, in which the Court addressed the scope of the statute of limitations under Section 16(b) of the Securities Exchange... Read More