Retired Judges Argue Review Of Challenge To American Pipe Rule Necessary

Mealey's (November 3, 2016, 9:24 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court should grant review of a New York federal judge’s ruling that an individual investors’ securities lawsuit is untimely because interpretation of its precedent in American Pipe & Construction Co. v. Utah is necessary to provide determination as to whether the rule established in that action applies to the three-year statute of limitations under Section 13 of the Securities Act of 1933, a group of retired federal judges argues in an Oct. 24 amicus curiae brief in support of a California pension fund (California Public Employees’ Retirement System v. Moody Investors Service Inc., et al., No. 16-373, U.S. Sup.; 2016 U.S. S. Ct. Briefs LEXIS 3839)....