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In In re Aetna, Inc Securities Litigation, No 09-2970, 2010 WL 3156560 (3d Cir Aug 11, 2010), the United States Court of Appeals for the Third Circuit held that certain allegedly misleading statements regarding the pricing of insurance premiums by a large health insurance company were protected under the safe harbor provision of the Private Securities Litigation Reform Act of 1995
In City of Pontiac General Employees' Retirement System v MBIA, Inc, 2011 US App LEXIS 3813 (2d Cir. Feb. 28, 2011), the United States Court of Appeals for the Second Circuit delineated the standard needed to asses how much information a reasonably diligent investor must have about the facts constituting a securities fraud violation before those facts are deemed “discovered” for purposes of triggering the statute of limitations for a claim under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78j(b), and Securities & Exchange Commission (“SEC”) Rule 10b-5, 17 C.F.R. 240.10b-5
