U.S. Supreme Court,
Civil Litigation,
Appellate Practice
Jun. 29, 2017
Time up for securities class action opt-outs
In CalPERS v. ANZ Securities, the U.S. Supreme Court continued its trend of paring back class actions and enforcing strict time limits on the filing of claims.
Stephen D. Hibbard
Partner
Proskauer Rose LLP
Email: shibbard@proskauer.com
Yale Law School; New Haven CT
Christopher J. Lovrien
Partner
Jones Day
Email: cjlovrien@jonesday.com
Harvard Univ Law School; Cambridge MA
Christopher is a business litigator who serves as partner-in-charge of Jones Day's California Region.
In CalPERS v. ANZ Securities, Inc., 2017 DJDAR 6238 (June 26, 2017), the U.S. Supreme Court continued its trend of paring back class actions and enforcing strict time limits on the filing of claims. At issue in the case was whether the filing of a class action complaint under the Securities Act of 1933 tolls the three-year filing deadline for class members who subsequently opt out and seek to file their own complaint after the deadline has expired. In a 5-4 opin...
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