Federal Deposit Insurance v. First Horizon Asset Securities, Inc.

Judge PARKER dissents in a separate opinion.

GERARD E. LYNCH, Circuit Judge:

Plaintiff-Appellant Federal Deposit Insurance Corporation (“FDIC”) brought this action under the Securities Act of 1933 as receiver for Colonial Bank (“Colonial”). Because the complaint was filed less than three years after the FDIC was appointed receiver, it was timely under the terms of *374the FDIC Extender Statute, which provides “the applicable statute of limitations with regard to any action brought by the [FDIC] as conservator or receiver.” 12 U.S.C. § 1821(d)(14)(A). But because the complaint was, filed more than…