Margolies v. Deason

EDITH BROWN CLEMENT, Circuit Judge:

Michael Margolies and the Margolies Family Trust (collectively “Margolies”) appeal the district court’s dismissal of all claims as time-barred, arguing that an extension to the statute of repose in the Sarbanes-Oxley Act of 2002 (“SOA”) applies to the federal claims and that the district court erred in finding that Margo-lies was on inquiry notice of the alleged fraud in 1998. We affirm in part and reverse in part, and remand the case to the district court.

I. FACTS AND PROCEEDINGS

Michael Margolies and the Margolies Family Trust were the largest shareholders…