Supreme Court Remands First Republic Fraud Suit

Law360, New York (May 3, 2010, 1:21 PM EDT) -- Citing its decision last week in Merck & Co. Inc. v. Reynolds, the U.S. Supreme Court has returned a case involving securities fraud allegations brought by an investor against First Republic Bank to the U.S. Court of Appeals for the Ninth Circuit to determine when exactly the plaintiff triggered the two-year statute of limitations for securities fraud cases.

The Supreme Court granted Trainer Wortham & Co. Inc.’s writ of certiorari on Monday, vacating the judgment and remanding the case back to the Ninth Circuit for “further...
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