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YOUNG v. LEPONE

No. 01-2622.

305 F.3d 1 (2002)

James R. YOUNG, as Trustee of the Nutramax Litigation Trust, Plaintiff, Appellant, v. Donald E. LEPONE et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided September 10, 2002.

Attorney(s) appearing for the Case

David C. Frederick, with whom Mark C. Hansen, Silvija A. Strikis, Leo R. Tsao, Kellogg, Huber, Hansen, Todd & Evans, P.L.L.C., Robert M. Thomas, Jr., and Thomas & Associates were on brief, for appellant.

Thomas J. Dougherty, with whom David S. Clancy, Kara E. Fay, and Skadden, Arps, Slate, Meagher & Flom LLP were on brief, for appellee Deloitte & Touche LLP.

Before BOUDIN, Chief Judge, SELYA, Circuit Judge, and GREENBERG, Senior Circuit Judge.

SELYA, Circuit Judge.

We confront here two intricate variations on a standard theme — the invocation of a limitations defense to federal securities claims. The general scenario is distressingly familiar: shareholders of a publicly-held company allege that the corporate officers systematically inflated earnings, concealed losses, and treated the company's books as works of fiction. The shareholders further allege that their natural guardians — the company...

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