3-year securities statute of limitations applicable rather than 5-year statute of limitations for common-law fraud
How later courts described this case
- 3-year securities statute of limitations applicable rather than 5-year statute of limitations for common-law fraud
- employees’ eleven purchases of employer’s stock regarded by Court as independent transactions for statute of limitations purposes, since if purchases were alleged in separate counts of civil complaint, recovery could be had as to each; or if listed as separate counts in criminal indictment, conviction could be had as to each
- statute of limitations under Section 10(b) determined partially on basis that scienter need not be proved
- Section 10(b) and Section 17(a)
Written by the judges who cited it.
The opinion
STEVENS, Circuit Judge
(concurring).
Judge Kiley’s opinion demonstrates that none of the transactions subsequent to October 8, 1963, was fraudulent. I think it is equally clear that none of them reveals any violation of Rule 10b-5 by appellant. Accordingly, I concur in the judgment.