United States Third Circuit
Pension Trust Fund for Operating Engineers v. Mortgage Asset Securitization Transactions, Inc., 12-3454
Read Pension Trust Fund for Operating Engineers v. Mortgage Asset Securitization Transactions, Inc., 12-3454
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The district court's orders dismissing plaintiffs' amended and second amended complaints, which alleged violations of the Securities Act of 1933, are affirmed, where: 1) a Securities Act plaintiff need not plead compliance with the one-year statute of limitations set forth in Section 13 of the Securities Act; 2) Section 13 establishes a discovery standard for evaluating the timeliness of Securities Act claims; but 3) nonetheless, the class action claims in the original complaint were untimely.
Appellate Information
- Decided 09/17/2013
- Published 09/17/2013
Judges
- FISHER
Court
- United States Third Circuit