9th Circ. Limits SLUSA Scope In Siliconix Action

Law360, New York (October 12, 2009, 2:30 PM EDT) -- Reviving an action by minority shareholders of Siliconix Inc. against the semiconductor maker's majority stakeholder, the U.S. Court of Appeals for the Ninth Circuit has ruled that the Securities Litigation Uniform Standards Act does not require the dismissal of an entire case when the suit includes some claims preempted by SLUSA and some that are not.

Following the lead of two other federal appeals courts, a three-judge panel of the Ninth Circuit ruled Friday that the statutory language of SLUSA did not require a federal court...
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