Tag Archives: statute of limitations

Guest Post: New York’s Highest Court Brings Finality to RMBS Repurchase Claims

On June 11, 2015, in a closely watched case, the New York Court of Appeals, New York’s highest court, decided when the statute of limitations begins to run for claimants alleging breaches of the representations and warranties provisions in residential mortgage backed securities.   As Robert Fumerton and Alexander Drylewski of the Skadden, Arps, Slate … Continue Reading

Guest Post: ACE Securities – Will There Be a New Wave of RMBS Repurchase Litigation?

On April 30, 2015, the New York Court of Appeals heard oral argument in a mortgage-backed securities-related case in which the court must consider when the statute of limitations begins to run for claims of breach of contractual representations and warranties. The range of possible outcomes of the case include an interpretation of the statute … Continue Reading

Guest Post: Second Circuit Holds that American Pipe Tolling Does Not Apply to the Securities Act’s Statute of Repose

An important recurring issue is the questions whether the prior filing of a securities class action lawsuit tolls the applicable statute of repose under the federal securities laws. In an important June 27, 2013, the Second Circuit issued an important decision on this question, holding that the tolling doctrine does not apply to three-year statue … Continue Reading

BP Deepwater Horizon Derivative Suit Dismissed in Favor of English Forum

A wave of litigation followed in the wake of the April 2010 Deepwater Horizon oil spill. Among this litigation were several shareholder derivative suits filed against certain directors and officers of BP and of its U.S. subsidiary. At the time these cases first arose, I asked whether or not these suits involving (and ultimately for the … Continue Reading

When is a Securities Suit Stale?

When the U.S. Supreme Court issued its ruling earlier this year in the Merck case pertaining to the question of what triggers the running of the statute of limitations in securities cases, there was some speculation that the decision might encourage an influx of cases involving events from the distant past. There really have not … Continue Reading

U.S. Supreme Court Allows Merck Vioxx Securities Suit to Proceed

A unanimous U.S. Supreme Court held on April 27, 2010 that the shareholder lawsuit arising from Merck’s alleged misrepresentations regarding Vioxx is not time-barred by the applicable statute of limitations. A copy of the Court’s opinion can be found here.   Background In an action filed in November 6, 2003, the plaintiffs had contended that … Continue Reading
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