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The Supreme Court held 6/28/01 that wetlands regulations limiting construction on shore land did not constitute deprivation of all economic use of the property and therefore did not constitute a taking. However, the Court remanded the case for further consideration of whether the regulations worked a partial taking for which plaintiff must be compensated. Specifically, the Court held that a takings claim is not barred by the fact that the plaintiff acquired title after the effective date of the state’s regulations. Although a court must take into account the fact that a party’s investment-backed expectations are diminished by the existence of such regulations, acquiring title after regulations become effective does not necessarily bar the claim.