“American Pipe” Tolling Takes a Hit at SCOTUS; Consequences to be Determined
Late in June, SCOTUS knocked out “American Pipe” equitable tolling in a securities case, as explained in a June 27, 2017 post at Faegre Baker Daniels. This is a typical 5-4 Roberts court “bright line” ruling based on the literal language of the statute, with the usual justices on the usual side of the ruling. The dissent pointed out the usual factors that rationalized tolling.
The outcome also illustrates a typical “be careful what you wish for” situation. For one company, a win. For others, maybe not. Expect more opt out suits by more plaintiffs.