Suit Against Worldcom Underwriter To Move Forward

Law360, New York (July 27, 2007, 12:00 AM EDT) -- Plaintiffs suing the only WorldCom Inc. underwriter that has not resolved securities fraud allegations were handed a victory Wednesday, when an appeals court held that their claims were not barred by the statute of limitations.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit ruled unanimously that the statute of limitations was tolled by the class action even though the individual suits had been filed prior to their being moved into the consolidated action and receiving certification. The decision reversed the dismissal...
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