Under the "discovery accrual rule"
discovery of the injury starts the clock for statute of limitations
purposes.
On February 28, 2019, the Second Circuit issued an important
decision regarding the statute of limitations for claims under the
Commodity Exchange Act ("CEA"). In a decision that may
serve as a focal point for future motions to dismiss CEA claims,
the Second Circuit concluded that the statute of limitations for
such claims begins to run when the plaintiff discovers its injury,
rather than when it learns of the other elements of its claim.
In Levy v. BASF Metals, Ltd., an investor in platinum
futures alleged that she was harmed when the platinum market
crashed in 2008. The plaintiff brought suit against one group of
defendants in 2012 for allegedly manipulating the platinum market
in violation of the CEA and other laws. The plaintiff brought a
second set of CEA claims in 2015 against a different group of
defendants for allegedly manipulating the platinum
