![]() ![]() ![]() Accordingly, we find that the district court's use of scattered press reports to take judicial notice of an adjudicative fact was beyond the proper scope of judicial notice. As noted above, the district court gave the parties no such opportunity to be heard. Graham, Federal Practice and Procedure ยง 5107 (1977) ("he judge must notify the parties that he is taking judicial notice of an adjudicative fact.") (footnote omitted). Sun Rubber Co., 425 F.2d 1114, 1125-26 (2d Cir.) (stating that failure to notify parties "exceeded the bounds of judicial notice, and thereby denied an effective opportunity to object, examine and rebut the matters noticed") (footnote omitted), cert. 10 Ordinarily, when a district court takes judicial notice of a fact other than at the request of a party, it should notify the parties that it is doing so and afford them an opportunity to be heard. ![]() Nor do we find that the district court's reliance on such material was within the scope of "judicial notice" under Fed.R.Evid. As to timeliness, the complaint alleged that, because Almonte had continued to misrepresent the nature and value of the Unit Trusts from the date of purchase through July of 1989, the applicable Puerto Rico two-year statute of limitations had tolled. Maloney joined Kidder Peabody in 1982 after spending seven years with Paine Webber, where he had been involved with the Blyth Eastman Paine Webber mergers and. 4 The complaint alleged that Almonte, while employed at Kidder, had fraudulently induced the Coop to purchase shares in the Unit Trusts by misrepresenting to the Coop the nature and risk of these investments. On December 28, 1989, more than three years after purchasing shares in Drexel Burnham Lambert Unit Trust Bond Funds (hereinafter "Unit Trusts"), the Coop brought Section 10(b) 2 and Rule 10b-5 3 claims against its financial services brokers, defendants-appellees Kidder, Peabody & Co. 1 Plaintiff-appellant Cooperativa de Ahorro y Credito Aguada ("the Coop") is a single-branch savings and loan cooperative located in Aguada, Puerto Rico. For purposes of this appeal, we provide only a summary of the procedural history of this case. ![]()
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