Investor Class Action Securities Claims Found To Be Untimely Filed

Mealey's (January 9, 2019, 1:59 PM EST) -- CHICAGO — A federal district court did not err in dismissing a securities class action lawsuit against a manufacturer of luxury hybrid electric cars and others as time-barred because shareholders failed to bring their claims within Illinois’ three-year statute of limitations on securities-based claims, a Seventh Circuit U.S. Court of Appeals panel ruled Jan. 7 (Orgone Capital III LLC, et al. v. Keith Daubenspeck, et al., No. 18-1815, 7th Cir., 2019 U.S. App. LEXIS 392)....