High Court Ducks Thorny Tolling Clash In IndyMac Reversal
By Stephanie Russell-Kraft (September 30, 2014, 8:01 PM EDT) -- When the U.S. Supreme Court on Monday reversed its decision to hear a long-anticipated appeal over whether a tolling provision should apply to certain securities class actions, it left in place a potentially damaging circuit split over the timing of investor opt-out rights and caused many observers to scratch their heads.
In a very short order, the high court dismissed as improvidently granted its writ of certiorari to the Public Employees' Retirement System of Mississippi, which was looking to overturn a 2013 Second Circuit decision that blocked it and other plaintiffs from intervening in a putative class action accusing IndyMac Bancorp Inc.,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!