Justices To Weigh Curbing State Securities Class Actions
Law360, New York (November 27, 2017, 10:24 PM EST) -- The U.S. Supreme Court on Tuesday will consider whether federal law bars state courts from hearing certain securities class actions, but the business community's hopes of restricting such access may hinge on convincing the most conservative justices to look past their preferred way of interpreting the law, lawyers said.
Oral arguments in the matter of Cyan Inc. v. Beaver County Employees Retirement Fund will give the justices the chance to decide whether state courts can hear so-called covered class actions based on the federal Securities Act of 1933 — or whether a 1998 law aimed at curbing abusive securities suits mandated...
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