CalPERS loses as the Supreme Court tightens investor suit deadlines in Lehman case. (Photo: AP)

(Bloomberg) — The U.S. Supreme Court tightened the deadlines for some securities-fraud suits, throwing out an investor lawsuit in a case stemming from Lehman Brothers Holdings Inc.’s 2008 collapse.

The justices, voting 5-4 along ideological lines, ruled that the California Public Employees’ Retirement System took too long to file its suit against the underwriters of Lehman’s debt. CalPERS said the three-year deadline should have been extended because similar class-action lawsuits had been filed earlier.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.