Year-Old Cyan Ruling Still A Touchy Subject For Attorneys
Law360 (March 22, 2019, 9:44 PM EDT) -- A year after the U.S. Supreme Court handed down its controversial Cyan decision affirming state courts have jurisdiction over certain securities class actions, plaintiffs and defense attorneys remain divided over its merits.
Plaintiffs generally defend the justices' opinion as an accurate interpretation of the existing law, while defendants worry about a dearth of protections in state courts that is widely viewed as benefiting their opponents, such as the absence of an automatic discovery stay.
No matter how much plaintiffs and defendants spar over the issue, though, it's not expected to generate enough controversy to be overturned by Congress any time soon....
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