McCool v. Strata Oil Co.
Court of Appeals for the Seventh Circuit
1Opinion of the Court
CUDAHY, Circuit Judge.
The plaintiffs invested in an oil drilling project in 1984. They sued in 1989, claiming that they did not get what they paid for. The district court held that their claims under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) (1988) (the '34 Act), and under the Racketeer Influenced and Corrupt Organizations Act (RICO), 18 U.S.C. §§ 1961 et seq. (1988), were time-barred and dismissed the pendent state law claims for lack of subject matter jurisdiction.
Statutes of limitations tend to be more difficult to apply than to define, but this is no…
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