Legal Opinion
Pacific Mutual Life Insurance v. First RepublicBank Corp.
Court of Appeals for the Fifth Circuit
Decided July 20, 1993No. 92-1662, 92-3375PublishedCited by 4 opinions
1Opinion of the Court
REAVLEY, Circuit Judge:
Plaintiffs who suffered dismissals in two separate securities-fraud cases asked the district courts to reinstate their claims under § 27A(b) of the Securities Exchange Act, 15 U.S.C. § 78aa-l(b), which Congress enacted in November 1991. The district courts denied these motions after holding that § 27A(b) violates the Constitution by disturbing final judgments and invading judicial authority. We conclude that the legislation is constitutional and we reinstate the plaintiffs’ suits.
I. BACKGROUND
A. PacifiC Mutual Life Ins. Co. v. First RepublicBank Corp., et al.
In March…
2Cases cited60 opinions
- Griffith v. KentuckySupreme Court of the United States · 1987
- Liljeberg v. Health Services Acquisition Corp.Supreme Court of the United States · 1988
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Usery v. Turner Elkhorn Mining Co.Supreme Court of the United States · 1976
- Lampf, Pleva, Lipkind, Prupis & Petigrow v. GilbertsonSupreme Court of the United States · 1991
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3Cited by4 opinions
- Pacific Mutual Life Insurance Co. v. First Republicbank Corp., Tgx Corp. v. Gloria Annette Turner Simmons, Cross-Appellees v. Greenwich Insurance Company, Cross-Appellants. Gaylon D. Simmons, Cross-Appellees v. J.C. Templeton, Cross-AppellantsCourt of Appeals for the First Circuit · 1993
- A.B. v. S.U.Supreme Court of Vermont · 2023
- Pacific Mutual Life Insurance v. First Republicbank Corp.Court of Appeals for the Fifth Circuit · 1995
- Pac Mtl Life Ins Co v. First Repub Bnk CorpCourt of Appeals for the Fifth Circuit · 1995