Footbridge Limited Trust v. Countrywide Financial Corp.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that American Pipe is an equitable tolling doctrine, and therefore does not apply to the three-year statute of repose applicable to Section 13 claims
• noting that the Court in American Pipe did not “read the text of Rule 23 as having embedded within it language that creates a class action tolling rule”
• “For issuers and underwriters, but not as to directors and officers, Rule 430B of the Securities Offering Reform (‘SOR’
• “For issuers and underwriters^] ... Rule 430B of the Securities Offering Reform (‘SOR’) changed the bona fide offering date for shelf offerings issued pursuant to registration statements filed on or after December 1,2005 to the date of the prospectus supplement.”
• “American Pipe noted that a purpose of Rule 23 is to promote judicial economy and efficiency.... But nowhere in American Pipe does the Court read the text of Rule 23 as having embedded within it language that creates a class action tolling rule.”
• American Pipe tolling does not apply

Source: CourtListener parenthetical corpus (CC0).