Justices Hammer IPO Investors Over Claims Timeliness

Law360, New York (November 29, 2011, 9:44 PM EST) -- A skeptical U.S. Supreme Court on Tuesday grilled an attorney representing securities plaintiffs who say their claims against investment banks regarding alleged short-swing trades related to initial public offerings in the late 1990s should not be bound by a two-year statute of limitations.

At issue in the case, Credit Suisse Securities (USA) LLC et al. v. Simmonds, is a December Ninth Circuit opinion reviving 24 lawsuits that were part of a consolidated securities action over initial public offerings of 54 companies in the late 1990s on...
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