Mr Cooper Group Inc (COOP)

[t1215s]

BigBang FYI I posted this once before ,Incase you missed it
Fraud Statute of Limitations

The fraud statute of limitations is four years, as is the breach of fiduciary duty statute of limitations. In cases of shareholder fraud, there is rarely a question of when the fraudulent transaction occured or how long the limitations period is. The hard question is always when does the limitations period begin to run because a minority shareholder may not realize for many years that she old her shares based on false or incomplete information. The general rule is that the statute of limitations begins to run when the plaintiff discovers that a fraud occurred or, in the exercise of reasonable diligence, should have discovered the fraud. However, in the context of the corporation's fiduciary duties to the minority shareholder, the general rule operates differently.

Applicability of Discovery Rule to the Fraud Statute of Limitations

Generally, a cause of action accrues, and the statute of limitations begins to run, when facts come into existence that authorize a claimant to seek a judicial remedy. The discovery rule is a limited exception which tolls the accrual of a cause of action which applies if, “the nature of the injury incurred is inherently undiscoverable and the evidence of injury is objectively verifiable.”


GLTA-Ts