1.0CLP Bloghttps://clpblog.citizen.orgBrian Wolfmanrich600338<blockquote class="wp-embedded-content" data-secret="FedY5whbPc"><a href="https://clpblog.citizen.org/supreme-court-holds-that-american-pipe-class-action-tolling-rule-does-not-apply-to-cases-brought-und/">Supreme Court holds that American Pipe class-action tolling rule does not apply to cases brought under Section 11 of the Securities Act of 1933</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://clpblog.citizen.org/supreme-court-holds-that-american-pipe-class-action-tolling-rule-does-not-apply-to-cases-brought-und/embed/#?secret=FedY5whbPc" width="600" height="338" title="“Supreme Court holds that American Pipe class-action tolling rule does not apply to cases brought under Section 11 of the Securities Act of 1933” — CLP Blog" data-secret="FedY5whbPc" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); /* ]]> */ </script> The decision is Calpers v. ANZ Securities. The vote is 5 to 4, with Justice Kennedy writing the majority opinion, and Justice Ginsburg writing the dissent. Skipping all its nuances, the American Pipe rule provides generally that the statute of limitations for absent class members is tolled from the filing of a class-action complaint until the [...]