In re WorldCom Sec. Litig. (Cal. Pub. Emps.’ Ret. Sys. (CalPERS) v. Caboto-Gruppo Intesa BCI)
The Second Circuit held that the filing of a class action complaint tolls the limitations period for all members of the class, including those who choose to opt out of the class action and file their own individual actions without waiting to see whether the district court certifies a class – reversing the decision below and effectively overruling multiple district court rulings that American Pipe tolling did not apply under these circumstances.