How Facebook Informs Exclusive Jurisdiction Provisions

Law360, New York (May 31, 2013, 1:51 PM EDT) -- A corporate exclusive venue provision in a certificate of incorporation was the subject of a recent opinion by Judge Robert W. Sweet of the Southern District of New York in In re Facebook Inc. IPO Securities and Derivative Litigation, MDL No. 12-2389. The decision also concerns important questions for MDL litigation, including the priority of determining subject matter/removal jurisdiction before determining questions going to venue, standing and, in the derivative context, motions to dismiss based on the demand requirement under Rule 23.1

The lawsuit arose in...
To view the full article, register now.