China Agritech, Inc. v. Resh
- Case Date: 1/29/2018
- Project Name: Civil Justice Reform
On January 29, 2018, WLF filed a brief in the U.S. Supreme Court, urging it to enforce reasonable statutes of limitations in securities fraud class actions. WLF argued that the Court should reject efforts by the plaintiffs’ bar to authorize the filing of a long-delayed class action simply because another lawsuit was pending in the years prior to the class-action filing. A two-year statute of litigation applies to securities fraud lawsuits. Under current law, the statute is tolled with respect to individual claims while a putative class action is pending; absent class members have an opportunity to file their own suit if the court hearing that case denies a motion for class certification. But if the two-year limitations period has expired, an absent class members should not be permitted to file a second class action on behalf of other shareholders, WLF argued. Otherwise, the plaintiffs’ bar could file class actions seriatim in hopes that one eventually would be certified.
|Awaiting oral argument on March 26, 2018.|
More Information and Downloads:
1/29/2018: Download the Brief
SCOTUSblog: Friday Roundup (noting WLF blog post)