IndyMac Case Could Reset Securities Class Action Timetable

By Stephanie Russell-Kraft (March 10, 2014, 8:28 PM EDT) -- With the Supreme Court set to resolve a circuit split over whether a long-standing class action tolling provision should apply to certain securities suits, some attorneys say a failure to allow potential class members to join securities class actions already in the works could clog the litigation pipeline for plaintiffs and defendants alike.

The case, Public Employees' Retirement System of Mississippi v. IndyMac MBS Inc., will clarify whether the high court's 1974 ruling in American Pipe & Construction Co. v. Utah. — which held that if a class action is filed on time, the statute of limitations is suspended for all...

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