WASHINGTON -- Following a U.S. Supreme Court decision last month that investors cannot bring a securities fraud case that is over three years old, a group of investors will petition the high court to consider a key issue raised by the controversial decision, an attorney for the buyers said Friday.

The question is whether the ruling in Lampf, Pleva, Lipkind, Prupis & Petigrow v. Gilbertson applies only to future cases or to cases currently pending in federal courts, said Franklin Gordon Allen 3d, a partner with Allen, Kilmer, Schrader, Yazbeck & Chenoweth in Portland.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.