In a case of first impression, the 2nd U.S. Circuit Court of Appeals last week held that individual actions brought by WorldCom bondholders were not time-barred even though they had filed their actions prior to certification of a class action.

Second Circuit Judge Pierre N. Leval wrote in In re: WorldCom Securities Litigation, 05-6979-cv that the filing of a class action tolls the statute of limitations for all members of the asserted class “regardless of whether” they file an individual action before the class is certified.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]