United States Third Circuit

In this suit brought by former shareholders against the now-defunct corporation Genaera and other defendants for breaching their fiduciary duties by engaging in insider trading, defendants moved to dismiss plaintiff’s complaint as untimely under the applicable two-year statute of limitations. Order dismissing plaintiffs’ complaint is reversed, where the claims arising out of the insider sales cannot be considered time-barred at this stage.

Appellate Information

• Decided 10/17/2014
• Published 10/17/2014

Judges

• Sloviter

Court

• United States Third Circuit

Counsel