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Second Circuit Review: Court Holds Securities Act Statute of Repose Not Tolled
August 29, 2013 Read the article
Litigation partners Martin Flumenbaum and Brad Karp's Second Circuit Review column appeared in the August 27 issue of the New York Law Journal. The article, "Court Holds Securities Act Statute of Repose Not Tolled" reviews Police & Fire Ret. Sys. of Detroit v. IndyMac MBS, a decision in which the court held that "American Pipe" tolling does not apply to the three-year statute of repose in Section 13 of the Securities Act of 1933, regardless of whether that tolling rule is characterized as "equitable" or "legal" in nature. Litigation associate Erin Elmouji assisted in the preparation of this column.