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This paper offers a conceptual and empirical analysis of a key issue that overhangs CalPERS v. ANZ Securities, soon to be decided by the Supreme Court. In particular, the paper offers an empirical estimate of the plausible quantity of wasteful protective filings that putative class members might make if the Court were to hold that American Pipe tolling does not apply to statutes of repose in the federal securities laws.


American Pipe, tolling rules, civil procedure, Rule 23, empirical legal studies

Publication Title

Stanford Law Review Online

Publication Citation

69 Stanford Law Review Online 92 (2017).