Defending Securities Act Claims In Texas State Court: Part 2
Law360 (May 7, 2019, 2:53 PM EDT) -- The U.S. Supreme Court's ruling last year in Cyan Inc. v. Beaver County Employees Retirement Fund allowed securities class action plaintiffs to pursue public offering claims in state courts. In Cyan, the high court held that: (1) state courts have jurisdiction to hear class actions brought under the federal Securities Act of 1933; and (2) the Securities Litigation Uniform Standards Act, or SLUSA, does not empower defendants to remove class actions alleging only 1933 Act claims from state to federal court.
The practical effect of the Supreme Court's decision is that more public offering securities are now being litigated in state courts....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!