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Expert Analysis

IndyMac Reversal Will Significantly Impact '33 Act Cases

Law360, New York (October 3, 2014, 10:25 AM EDT) -- One of the important securities law cases on the U.S. Supreme Court's docket for the upcoming term involved the failed IndyMac bank. The court had granted cert in the case to decide whether the three-year limitations period in Section 13 of the Securities Act of 1933 may be tolled by the filing of a putative securities class action (under a legal theory known as the American Pipe tolling doctrine), or rather is a statute of repose that cannot be tolled. Though seemingly technical, the case presented potentially significant issues....

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