American High-Income Trust v. Honeywell International
Filed
NOT TO BE PUBLISHED IN THE OFFICIAL REPORTS
California Rules of Court, rule 977(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 977(b). This opinion has not been certified for publication or ordered published for purposes of rule 977.
IN THE COURT OF APPEAL OF THE STATE OF
SECOND APPELLATE DISTRICT
DIVISION SEVEN
AMERICAN HIGH-INCOME TRUST et al., Plaintiffs and Appellants, v. HONEYWELL INTERNATIONAL, INC., Defendant and Respondent. | B190344 ( Super. |
APPEAL from an order of the Superior Court of Los Angeles County, George H. Wu, Judge. Reversed.
Venable, Ben D. Whitwell and Christopher T. Williams; Grant & Eisenhofer, Stuart M. Grant and James J. Sabella for Plaintiffs and Appellants.
Kirkland & Ellis, Christopher Landau and C. Robert Boldt for Defendant and Respondent.
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A group of business trusts initially filed a lawsuit in federal court against several defendants, including a manufacturer, alleging common law fraud and violations under the Corporations Code and federal securities law. Over four years later, the federal district court dismissed with prejudice all federal causes of action against the manufacturer. It also dismissed the ancillary state and common law claims against the manufacturer for lack of jurisdiction. More than five months following the order, the trusts filed the same fraud claim against the manufacturer in state court. The superior court dismissed after sustaining a demurrer that the action was time-barred. We find the limitations period has not yet run, because the district court has not entered a final judgment pursuant to 28 United States Code[1] section 1291 or certified the entry of a final judgment pursuant to rule 54(b) [2] of the Federal Rules of Civil Procedure (28 U.S.C.). Accordingly, we reverse.
FACTUAL BACKGROUND
Plaintiffs and appellants are four Massachusetts and two California business trusts and two Maryland corporations including: American High-Income Trust; The Bond Fund of America, Inc.; The Income Fund of America, Inc.; American Funds Insurance Series--Bond Fund; American Funds Insurance--High Yield Bond Fund; Anchor Pathway Fund--High Yield Bond Series; Capital Guardian U.S. Fixed-Income Master Fund; and Capital Guardian Global High-Yield Fixed-Income Fund (collectively â€
