Deciding a question of first impression, the Ninth Circuit today held that plaintiffs may pursue an insider trading claim, under section 20A of the Securities Exchange Act, even though limitations barred action on the predicate securities law "violation", under section 10(b) of the Act. The court reasoned that "violation" doesn’t equal "actionable violation". Blawgletter says check it out. Johnson v. Aljian, No. 04-56997 (9th Cir. June 20, 2007).
Barry Barnett
