Valeant Securities Suit Was Launched On Time, 3rd Circ. Told

Law360 (October 21, 2020, 8:25 AM EDT) -- Investors in Valeant Pharmaceuticals Inc. urged the Third Circuit to revive their claims that the company engaged in a price-gouging scheme that cost stockholders billions, arguing Tuesday that a lower court should have paused the time limit for them to sue. 

During an oral argument held via Zoom, the investors said the New Jersey federal judge who tossed the case should have applied the equitable tolling precedent established in the U.S. Supreme Court's 1974 decision in American Pipe & Construction Co. v. Utah. That ruling held that the two-year statute of limitations for class action plaintiffs to opt out and file...

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