Citing Merck, 9th Circ. Revives Alchemix Securities Suit

Law360, Los Angeles (December 2, 2011, 9:58 PM EST) -- Citing the U.S. Supreme Court's 2010 decision in Merck v. Reynolds, the Ninth Circuit on Friday revived Strategic Diversity Inc.'s lawsuit against Alchemix Corp. and Medici Associates LLC over a failed investment in alternative fuels that a lower court had ruled was time-barred.

The appeals court remanded the case, in part, to determine when exactly Strategic Diversity and its founder Kenneth Weiss triggered the two-year statute of limitations for securities fraud cases. U.S. District Judge G. Murray Snow dismissed the case in its entirety in January...
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