SCOTUS Agrees to Review MBS-Related Tolling, Decision Could Give Investors More Flexibility
March 14, 2014
The U.S. Supreme Court has added two more lawsuits to its growing list of securities cases by agreeing to take up an IndyMac MBS suit. In Public Employees’ Retirement System of Mississippi v. IndyMac MBS Inc. et al, SCOTUS has agreed to consider whether the filing of a class-action lawsuit tolls the three-year statute of repose under the Securities Act of 1933 or whether the statute is an absolute bar that cannot be suspended. Like a statute of limitations, a statute of repose cuts off...