Edith R. Suslick, of the Estate of Alvin Suslick, Deceased v. Rothschild Securities Corp.
Court of Appeals for the Seventh Circuit
1Opinion of the Court
HARLINGTON WOOD, Jr., Circuit Judge.
The principal issue in this case concerns the interplay between the federal doctrine of equitable tolling and the state statute of limitations adopted for actions brought pursuant to § 17(a) of the Securities Act of 1933, § 10(b) the Securities Exchange Act of 1934, and Rule 10b-5 of the Securities and Exchange Commission (SEC) in the absence of an applicable federal statute of limitations. The district court held that the appropriate limitations period was the three-year period contained in Ill.Rev.Stat. ch. 121V2 § 137.13 D (1977), that the limitations…
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