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

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