Although the Sarbanes-Oxley Act established more generous time limits for filing securities claims, a federal judge has ruled the law cannot be used to revive claims for which the previous, shorter time limits had already expired. Since the text of Sarbanes-Oxley is ambiguous, Judge Anita B. Brody in Pennsylvania found that she was forced to apply the presumption, announced by the U.S. Supreme Court in its Landgraf decision, that the new time limits cannot be applied retroactively.
Sarbanes-Oxley Can't Revive Dead Claims
The Legal Intelligencer
September 1, 2004
This article requires premium access
This article requires premium access to Law.com. Please sign in or subscribe to read the full text.