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PONTIAC GENERAL EMPLOYEES' RETIREMENT v. MBIA

Docket No. 09-4609-cv.

637 F.3d 169 (2011)

CITY OF PONTIAC GENERAL EMPLOYEES' RETIREMENT SYSTEM and Southwest Carpenters Pension Trust, on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, Anthony Capone, individually and on behalf of all others similarly situated, Todd Simon, individually and on behalf of all others similarly situated, Mariss Partners, LLP, individually and on behalf of all others similarly situated, Thomas Cassady, individually and on behalf of all others similarly situated, Alan D. Sadowsky, individually and on behalf of all others similarly situated, and Barbara S. Katzin, individually and on behalf of all others similarly situated, Consolidated-Plaintiffs, v. MBIA, INC., Joseph W. Brown, Gary C. Dunton, Nicholas Ferreri, Neil G. Budnick, Douglas C. Hamilton, and Richard Weill, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided: February 28, 2011.

Attorney(s) appearing for the Case

Sanford Svetcov , Susan K. Alexander , Robbins Geller Rudman & Dowd LLP, San Francisco, CA, Samuel H. Rudman , David A. Rosenfeld , Mario Alba, Jr. , Robbins Geller Rudman & Dowd LLP, Melville, NY, for appellants.

Steven Klugman , Christopher J. Hamilton , Emily J. Mathieu , David Gopstein , Debevoise & Plimpton LLP, Lance J. Gotko , John N. Orsini , Friedman Kaplan Seiler & Adelman LLP, New York, NY, for appellees.

DENNIS JACOBS, Chief Judge:

Appellants, a pair of retirement funds representing a proposed class of individuals who purchased stock in MBIA, Inc., appeal a decision by the United States District Court for the Southern District of New York (Stanton, J.) dismissing their proposed class action as barred by the statute of limitations for security fraud claims. The district court concluded that the proposed class was on...

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