Judge Rejects CalPERS Statute Of Repose Argument In Securities Class Action

(August 31, 2017, 1:55 PM EDT) -- HOUSTON — Reconsideration of a federal district court’s ruling granting class certification in a securities class action lawsuit against an energy company, certain of its officers and directors and others is not warranted pursuant to U.S. Supreme Court precedent in California Public Employees Retirement System (CalPERS) v. ANZ Securities Inc. because nothing in the high court’s ruling holds that a timely filed class action lawsuit fails to “satisfy the statute of repose for class members who do not opt out,” a federal judge in Texas ruled Aug. 23 in denying the defendants’ motion (In re Cobalt International Energy Inc. Securities Litigation, No. 14-3428, S.D. Texas, 2017 U.S. Dist. LEXIS 91938)....