15 U.S.C. § 78aa–1 — Special provision relating to statute of limitations on private causes of action
submitted 92 years ago by Pub. L. 102-242 to r/title-15-COMMERCE-AND-TRADE · 150 words · no verdicts yet
This section fixes the deadline for certain securities fraud lawsuits filed on or before June 19, 1991. Those suits use whatever time limit applied in that court's jurisdiction as of that date. A suit dismissed as too late must be reinstated if the plaintiff asks within 60 days of December 19, 1991.
The limitation period for any private civil action implied under section 78j(b) of this title that was commenced on or before June 19, 1991, shall be the limitation period provided by the laws applicable in the jurisdiction, including principles of retroactivity, as such laws existed on June 19, 1991.
Any private civil action implied under section 78j(b) of this title that was commenced on or before June 19, 1991—
which was dismissed as time barred subsequent to June 19, 1991, and
which would have been timely filed under the limitation period provided by the laws applicable in the jurisdiction, including principles of retroactivity, as such laws existed on June 19, 1991,
shall be reinstated on motion by the plaintiff not later than 60 days after December 19, 1991.
Source credit: (June 6, 1934, ch. 404, title I, § 27A, as added Pub. L. 102–242, title IV, § 476, Dec. 19, 1991, 105 Stat. 2387.)
- 1934Enacted · Pub. L. 102-242 · 105 Stat. 2387
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-242 on 1934-06-06.
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