California Public Employees’ Retirement System v. ANZ Securities, Inc.
| Docket No. | Argument | Opinion | Vote | Author | Term |
|---|---|---|---|---|---|
| 16-373 | Apr 17, 2017 | May 1, 2025 | 5-4 | Kennedy | OT 2016 |
Holding: The public pension fund's untimely filing of its individual complaint under Section 11 of the Securities Act of 1933 more than three years after the relevant securities offering is ground for dismissal under Section 13 of the act.
Judgment: Affirmed, 5-4, in an opinion by Justice Kennedy on May 1, 2025. Justice Ginsburg filed a dissenting opinion, in which Justices Breyer, Sotomayor and Kagan joined.
SCOTUSblog Coverage
- Opinion analysis: Divided court holds firm on deadlines for investors opting out of securities class actions (Ronald Mann, June 27, 2017)
- A "view" from the courtroom: A day for drama on the bench (Mark Walsh, June 26, 2017)
- And then there were nine the remaining decisions (Amy Howe, June 23, 2017)
- And then there were six the remaining cases (Amy Howe, June 23, 2017)
- Argument analysis: Justices stay late to hear argument about deadlines for investors opting out of securities class actions (Ronald Mann, April 18, 2017)
- Argument preview: Rules for timely filing of securities class actions before the court next week (Ronald Mann, April 10, 2017)
- Court releases April calendar (Amy Howe, February 17, 2017)
- Court adds 16 new cases to its merits docket (Expanded) (Amy Howe, January 13, 2017)
| Date | Proceedings and Orders |
|---|---|
| 09/22/2016 | Petition for a writ of certiorari filed. (Response due October 24, 2016) |
| 10/19/2016 | Order extending time to file response to petition to and including November 23, 2016. |
| 10/21/2016 | Brief amici curiae of The States of Washington, et al. filed. |
| 10/24/2016 | Brief amici curiae of Retired Federal Judges filed. |
| 11/23/2016 | Brief of respondents ANZ Securities, Inc.,et al. in opposition filed. |
| 12/07/2016 | DISTRIBUTED for Conference of January 6, 2017. |
| 12/07/2016 | Reply of petitioner California Public Employees' Retirement System filed. (Distributed) |
| 01/09/2017 | DISTRIBUTED for Conference of January 13, 2017. |
| 01/13/2017 | Petition GRANTED limited to Question 1 presented by the petition. |
| 02/17/2017 | SET FOR ARGUMENT ON Monday, April 17, 2017. |
| 02/22/2017 | Record requested from U.S.C.A. 2nd Circuit. |
| 02/22/2017 | Consent to the filing of amicus curiae briefs, in support of either party or of neither party, received from counsel for the Petitioner. |
| 02/27/2017 | Record received from U.S.C.A. 2nd Circuit. The record is electronic. |
| 02/27/2017 | Joint appendix filed. (Statement of costs filed.) |
| 02/27/2017 | Brief of petitioner California Public Employees' Retirement System filed. |
| 03/06/2017 | Consent to the filing of amicus briefs, in support of either party or of neither party, received from counsel for the respondent. |
| 03/06/2017 | Brief amici curiae of Institutional Investors filed. |
| 03/06/2017 | Brief amicus curiae of SRM Global Master Fund Limited Partneership filed. |
| 03/06/2017 | Brief amici curiae of Washington, et al. filed. |
| 03/06/2017 | Brief amici curiae of Current and Former Directors of Publicly Traded Companies: Charles M. Elson and Howard Wiener filed. |
| 03/06/2017 | Brief amici curiae of Civil Procedure and Securities Law Professors filed. |
| 03/06/2017 | Brief amicus curiae of DeKalb County Pension Fund filed. |
| 03/06/2017 | Brief amici curiae of Retired Federal Judges filed. |
| 03/06/2017 | Brief amici curiae of Public Citizen, Inc., and Public Justice, P.C. filed. |
| 03/06/2017 | Brief amici curiae of North American Securities Administrators Association, Inc. filed. |
| 03/22/2017 | CIRCULATED. |
| 03/29/2017 | Brief of respondents ANZ Securities, Inc., et al. filed. (Distributed) |
| 04/05/2017 | Brief amici curiae of The Securities Industries and Financial Markets Association, et al. filed. (Distributed) |
| 04/05/2017 | Brief amicus curiae of The Chamber of Commerce of the United States of America filed. (Distributed) |
| 04/05/2017 | Brief amicus curiae of Washington Legal Foundation filed. (Distributed) |
| 04/10/2017 | Reply of petitioner California Public Employees' Retirement System filed. (Distributed) |
| 04/17/2017 | Argued. For petitioner: Thomas C. Goldstein, Bethesda, Md. For respondents: Paul D. Clement, Washington, D. C. |
| 06/26/2017 | Adjudged to be AFFIRMED. Kennedy, J., delivered the opinion of the Court, in which Roberts, C. J., and Thomas, Alito, and Gorsuch, JJ., joined. Ginsburg, J., filed a dissenting opinion, in which Breyer, Sotomayor, and Kagan, JJ., joined. |
| 07/28/2017 | JUDGMENT ISSUED. |