Asecurities fraud suit might be able to go forward under Sarbanes-Oxley even though it clearly would have been barred under the pre-SOX law, a federal appellate court has ruled. The decision could potentially open the courthouse doors to many securities lawsuits presumed dead.
Several appellate courts have held in recent months that SOX—which expanded the statute of limitations for filing securities claims—does not revive suits that were barred before the statute was enacted. The St. Louis-based 8th Circuit became the latest court to adopt that view on June 6 (see related coverage at right).
