In Cochran v. Penn Mutual Life Insurance Co., 35 F.4th 1310 (11th Cir. May 31, 2022), the Eleventh Circuit affirmed the district court’s dismissal of a claim for breach of fiduciary duty as barred by the Securities Litigation Uniform Standards Act (SLUSA). After Jeffrey Cochran’s 401(k) retirement plan was terminated by his employer, he transferred…
Tag: Private Securities Litigation Reform Act (PSLRA)
Ask Not for Whom the Securities Exchange Act’s Statute of Repose Tolls; It Doesn’t.
Is a statute of repose subject to tolling? Although its holding was limited to the applicability of American Pipe tolling, created by the commencement of a class action, to the five-year statute of repose under Section 20(a) of the Securities Exchange Act of 1934, the Eleventh Circuit discussed the issue in broad terms in its August 10…