Second Circuit Discusses "Storm Warnings" in Rejecting Section 10(b) Statute of Limitations Defense

On November 17, 2008, the United States Court of Appeals for the Second Circuit issued its decision in Staehr v. The Hartford Financial Services Group, Inc. In rejecting Defendants' statute of limitations defense, the Court offered insight and clarification on what public information may constitute "storm warnings" sufficient to trigger inquiry notice in a §10(b) securities fraud action.