Today’s opinions

We have two new opinions this morning:

In Stolt-Nielson S.A. v. AnimalFeeds International (08-1198), the Court reverses and remands the decision below in a 5-3 vote, with an opinion by Justice Alito.  Justice Ginsburg dissents, joined by Justices Stevens and Breyer.  Justice Sotomayor took no part.

• Holding: Class arbitration may not be imposed on parties that have not agreed to that.

In Merck & Co. v. Reynolds (08-905), the Court affirms the lower court unanimously, in an opinion by Justice Breyer.   Justice Stevens concurs, as does Justice Scalia, joined by Justice Thomas.

• Holding: The time limitations period for filing a securities fraud lawsuit begins to run once the plaintiff discovered or reasonably would have discovered the violation–whichever comes first.

The full texts of the opinions appear below the jump.

Stolt-Nielson v. AnimalFeeds International, No. 08-1198

Merck & Co. v. Reynolds, No. 08-905