High Court Reverses Decision To Hear IndyMac Appeal

Law360, New York (September 29, 2014, 3:38 PM EDT) -- The Supreme Court on Monday revoked its granting of cert in a dispute over whether a tolling provision should apply to certain securities suits, just days after the litigants said a settlement in the underlying class action wouldn’t impact the appeal.

In a very short order, the high court summarily dismissed its writ of certiorari to the Public Employees' Retirement System of Mississippi, which was looking to overturn a Second Circuit decision that blocked it and other plaintiffs from intervening in a putative class action accusing IndyMac Bancorp Inc., Morgan Stanley & Co. and Goldman Sachs & Co. of misrepresenting certain...

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