9th Circ. Remands First Republic Fraud Suit After Merck

Law360, New York (July 9, 2010, 3:27 PM EDT) -- On the heels of the U.S. Supreme Court's decision that the limitations period in securities suits doesn't begin until the plaintiff discovers facts constituting a violation of securities law, a federal appeals court has remanded a fraud case an investor brought against First Republic Bank.

Citing its decision in Merck & Co. Inc. v. Reynolds, the Supreme Court in May remanded Heide Betz's suit against Trainer Wortham & Co., now known as First Republic, to the U.S. Court of Appeals for the Ninth Circuit. A three-judge...
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