On June 11, 2018, the U.S. Supreme Court issued a decision that enforces a reasonable limitations period in class actions. The decision was a victory for WLF, which filed a brief urging the Court to reject efforts by the plaintiffs’ bar to authorize the filing of long-delayed class actions simply because another lawsuit was pending in the years prior to the class-action filings. A two-year statute of limitations applies to securities fraud lawsuits. Under current law, the statute is tolled with respect to individual claims while a putative class action is pending; absent class members have an opportunity to file their own suit if the court hearing that case denies a motion for class certification. But if the two-year limitations period has expired, an absent class member should not be permitted to file a second class action on behalf of other shareholders, the court held. Otherwise, the plaintiffs’ bar could file class actions seriatim in hopes that one eventually would be certified.