Defending Securities Act Claims In Texas State Court: Part 3

Law360 (May 8, 2019, 3:38 PM EDT) -- The U.S. Supreme Court's ruling last year in Cyan Inc. v. Beaver County Employees Retirement Fund held that securities class action plaintiffs could pursue claims brought under the federal Securities Act of 1933 in state courts, and that the Securities Litigation Uniform Standards Act 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. Defendants who find themselves litigating a 1933 Act case in Texas state courts can navigate Texas procedures to provide...

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