3rd Circ. Eases Limitations Test For Securities Claims

Law360, New York (October 25, 2013, 11:33 AM ET) -- In Pension Trust Fund for Operating Engineers v. Mortgage Asset Securitization Transactions Inc., No. 12-3454, (3d Cir. Sept. 17, 2013), the U.S. Court of Appeals for the Third Circuit joined the Seventh, Ninth and Eleventh Circuits, holding that Section 13 of the Securities Act of 1933 (“1933 Act”), 15 U.S.C. § 77m, does not require plaintiffs asserting a claim under the 1933 Act to plead with particularity compliance with the statute of limitations.

In doing so, the Third Circuit split from the First, Eighth and Tenth...
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