California Court of Appeal

Judgment to plaintiffs, buyers of an unregistered security who filed suit beyond statute of limitations, is reversed based on decision of first impression that the principle of equitable tolling does not apply to an action under section 12(a)(1) of the Securities Act of 1933.

Appellate Information

• Decided 07/18/2006
• Published 07/18/2006

Judges

• WILLHITE, J.

Court

• California Court of Appeal

Counsel

• For Appellees:
  
• Proskauer & Rose and Robert H. Horn, Los Angeles, for Defendant and Appellant., Scott E. Schutzman, Santa Ana, and Lee W. Chen for Plaintiffs and Respondents.