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Porter Wright Morris & Arthur LLP | USA | 28 Jun 2011
Supreme Court to hear securities case regarding Section 16(b) claims regarding short swing profits
On Monday, June 27, 2011, the Supreme Court granted Certiorari in Credit Suisse Securities (USA) LLC v. Simmonds, Case No. 10-1261.
Mayer Brown | USA | 30 Apr 2010
Claims against accounting firms implications of Merck & Co. v. Reynolds
On April 27, 2010, the US Supreme Court issued a decision that effectively tolled the statute of limitations applicable to securities fraud litigation until plaintiffs discover or reasonably should have discovered sufficient evidence of scienter to plead a fraud claim in conformity with the Private Securities Litigation Reform Act (PSLRA), i.e., fraudulent intent.
Gibson Dunn & Crutcher LLP | USA | 29 Apr 2010
U.S. Supreme Court extends time to file federal securities fraud suits
On April 27, 2010, the United States Supreme Court held that the statute of limitations for private actions claiming securities fraud under Section 10(b) of the Securities Exchange Act of 1934 does not begin to run until plaintiffs have discovered or, with reasonable diligence, could have discovered the facts constituting the fraud, including scienter.
Mayer Brown | USA | 28 Apr 2010
US Supreme Court releases opinion in Merck & Co. v. Reynolds
The Securities Exchange Act of 1934 provides that private actions alleging securities fraud are timely if they are filed within "2 years after the discovery of the facts constituting the violation" and within "5 years after such violation."
Locke Lord LLP | USA | 8 Jun 2009
U.S. Supreme Court to decide "inquiry notice" standard
On May 26, 2009, the U.S. Supreme Court granted Merck's petition for a writ of certiorari in the securities class action regarding Merck's Vioxx disclosures.
Katten Muchin Rosenman LLP | USA | 28 Mar 2008
Statute of limitations barred federal securities claims
Plaintiffs sued defendants, a software company (Aspen) and several of its officers and directors, for, among other things, violating sections 10(b) and 20(a) of the Securities Exchange Act of 1934.