Issues Supreme Court Will Consider In SEC V. Gabelli
October 15, 2012, 2:04 PM EDT
Law360, New York (October 15, 2012, 2:04 PM EDT) -- The United States Supreme Court has agreed to decide an important question about when an action “accrues” for purposes of the federal statute of limitations that applies to civil enforcement actions brought by the U.S. Securities and Exchange Commission. The court granted certiorari to review the decision of the United States Court of Appeals for the Second Circuit in SEC v. Gabelli, 653 F.3d 49 (2011).
In Gabelli, the Second Circuit held that that the five-year limitation period set forth in 28 U.S.C. § 2462 did...