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Impact Of CalPERS V. ANZ Beyond The Securities Act

Law360, New York (October 11, 2017, 1:04 PM EDT) -- Many have commented on the fact that the U.S. Supreme Court has resolved a long-standing circuit split by holding that the class action “tolling” principle set forth in American Pipe & Construction Co. v. Utah, 414 U.S. 538 (1974), does not apply to the three-year statute of repose under the Securities Act of 1933. California Public Employees’ Retirement System v. ANZ Securities Inc., 137 S. Ct. 2042 (2017). That decision, however, left open many often-thorny issues about the application of the American Pipe doctrine that have...
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