Magazine article
U.S. Supreme Court Extends Time to File Federal Securities Fraud Suits
Insights; the Corporate & Securities Law Advisor, Vol.24(6), p.28
06/01/2010
Abstract
On Apr 27, 2010, the US Supreme Court held that the statute of limitations for private actions claiming securities fraud under Section 10(b) of the Securities Exchange Act of 1934 does not begin to run until plaintiffs have discovered or, with reasonable diligence, could have discovered the facts constituting the fraud, including scienter. The decision in Merck & Co v Reynolds -- authored by Justice Breyer and joined in full by five Justices and in part by the remaining three -- establishes a more plaintiff-friendly standard that will make it more difficult for defendants to challenge the timeliness of plaintiffs' Section 10(b) claims. In establishing a more plaintiff friendly standard for the statute of limitations, the Court addressed and counterbalanced what it perceived to be a recent course of steadily increasing burdens on plaintiffs seeking to bring securities fraud claims.
Details
- Title: Subtitle
- U.S. Supreme Court Extends Time to File Federal Securities Fraud Suits
- Creators
- Richard BierschbachJonathan LiGregory Shill
- Resource Type
- Magazine article
- Publication Details
- Insights; the Corporate & Securities Law Advisor, Vol.24(6), p.28
- Publisher
- Aspen Publishers, Inc; Englewood Cliffs
- ISSN
- 0894-3524
- Language
- English
- Date published
- 06/01/2010
- Academic Unit
- Economics; Law Faculty; Center for Social Science Innovation
- Record Identifier
- 9984426841702771
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