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Conn. State Court Grants Post-Cyan Discovery Stay

Law360 (May 17, 2019, 8:02 PM EDT) -- A Connecticut state judge addressed one of the biggest questions created by last year's controversial Cyan ruling when he granted a bid to halt discovery pending a decision about whether to dismiss a case over allegedly misleading public offering documents.

The U.S. Supreme Court decided last year that state courts can continue to hear certain securities class actions brought under federal law, causing concern among defense attorneys that they wouldn't have access in state court to protections that are guaranteed in federal court under the Private Securities Litigation Reform Act.

In a question of first impression in Connecticut, Superior Court Judge Charles...

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