Representing The National Association of Shareholder and Consumer Attorneys (NASCAT), our firm led the charge for an extension of the statute of limitations in securities fraud cases as part of the Sarbanes-Oxley Act of 2002. That controversial provision was adopted over Republican stall tactics on the floor of the Senate aimed exclusively at this provision.
As a result, investors who have been defrauded have a much longer time to bring the suit after the fraud or after the discovery of the fraud. This landmark provision overruled a Supreme Court decision in Lampf, Pleva, Lipkind, Prupis & Petigrow v. Gilbertson, et al.