Panel: Federal Securities Law Claims Time-Barred Under Statute Of Repose
Mealey's (May 3, 2016, 1:45 PM EDT) -- NEW YORK — A federal judge did not err in dismissing federal securities laws claims against defendants in a securities class action lawsuit because shareholder claims were time-barred under the applicable statute of repose, a Second Circuit U.S. Court of Appeals panel ruled April 29 (DeKalb County Pension Fund v. Transocean Ltd., et al., No. 14-0894, 2nd Cir.).
(Opinion available. Document #57-160516-021Z.)
Lead plaintiffs Bricklayers and Masons Local Union No. 5 Ohio Pension Fund and the DeKalb County Pension Fund filed an amended complaint in the...