Supreme Court Amicus Brief (Merits Stage) of Civil Procedure and Securities Law Professors in Support of Petitioner, Public Employees' Retirement System of Mississippi v. IndyMac MBS, Inc., No. 13-640

Abstract

Amici curiae law professors (Janet Alexander, Stephen Burbank, Kevin Clermont, John Coffee, Jr., James Cox, Scott Dodson, David Engstrom, Jonah Gelbach, Alexandra Lahav, David Marcus, Norman Spaulding, Benjamin Spencer) filed this brief in the United States Supreme Court in support of petitioner in Public Employees' Retirement System of Mississippi v. IndyMac MBS, Inc., No. 13-640, regarding the applicability of American Pipe's protective tolling rule to the three-year limitations period in Section 13 of the Securities Act in class action suits. The brief uses original data to offer simple empirical estimates (accompanied by graphical presentations) of the likely efficiency costs of a decision by the Court limiting American Pipe's reach.