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United States Third Circuit


Schmidt v. Skolas, 13-3750

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

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