S&C Represents Banks Challenging the Timeliness of Crisis-Era Litigation

December 13, 2016

On December 13, Bob Giuffra, who is the lead attorney representing leading banks in a major FIRREA-related appeal to the U.S. Supreme Court, was quoted in a New York Times Dealbook article titled “Big Banks Fight to Block Crisis-Era Lawsuits From Continuing.” The article described how S&C, on behalf of several large banks, is challenging the timeliness of litigation related to the financial crisis, asking the Supreme Court to take up the issue of whether regulators incorrectly relied on extender provisions to bring securities claims after the three year statute of repose under the Securities Act of 1933. “In terms of financial crisis litigation, the stakes are enormous,” said Bob. “If there's a future downturn and the federal banking agencies want to start bringing lawsuits, they would get the benefit of this favorable decision.”