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The better approach would be to recognize that when class action litigation is filed in a timely manner, it is filed in a timely manner, period, even for class members who later opt out.
Specifically, companies who miss the grace period are not eligible to issue securities using Form S-3 (referred to as "shelf registration") until they have filed in a timely manner for at least 12 months.
I call CalPERS' problem "strange" because the Supreme Court already had made it clear, back in 1974, that if a class action is filed in a timely manner, then the statute of limitations period will be tolled for all members of that class.
This earlier ruling, in a case called American Pipe & Construction Co. v. Utah, was common sense: If a lawsuit is filed in a timely manner, members of the class should not be precluded from going forward with an individual lawsuit later.
The NSAC denied Pacquiao's request because his injury had not been previously disclosed and the paperwork wasn't filed in a timely manner.
Garcetti answered "yes" when asked whether King could have been successfully prosecuted if charges had been filed in a timely manner.
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Replace files in a timely manner.
File your taxes in a timely manner to see what savings might be applicable to you.
File the appropriate tax paperwork in a timely manner.
At the time, the goal was to address cases in a timely manner.
But not always in a timely manner.
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