Please ensure Javascript is enabled for purposes of website accessibility

Statutes of limitations – Securities

By: Derek Hawkins//July 5, 2017//

Statutes of limitations – Securities

By: Derek Hawkins//July 5, 2017//

Listen to this article

United States Supreme Court

Case Name: CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM v. ANZ SECURITIES, INC.ET AL.

Case No.: 16-373

Focus: Statutes of limitations – Securities

Petitioner’s untimely filing of its individual complaint more than three years after the relevant securities offering is ground for dismissal.

The two categories of statutory time bars—statutes of limitations and statutes of repose—each have “a distinct purpose.” CTS Corp. v. Waldburger, 573 U. S. ___, ___. Statutes of limitations are designed to encourage plaintiffs “‘to pursue diligent prosecution of known claims,’ ” id., at ___, while statutes of repose “effect a legislative judgment that a defendant should ‘be free from liability after the legislatively determined period of time,’ ” id., at ___. For this reason, statutes of limitations begin to run “when the cause of action accrues,” while statutes of repose begin to run on “the date of the last culpable act or omission of the defendant.”

Affirmed

Dissenting: Ginsburg, Breyer, Sotomayor, Kagan

Concurring:

Full Text


Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

Polls

Should Steven Avery be granted a new evidentiary hearing?

View Results

Loading ... Loading ...

Legal News

See All Legal News

WLJ People

Sea all WLJ People

Opinion Digests