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U.S. Supreme Court,
Securities,
Civil Litigation

Mar. 22, 2018

Federal securities statutes say what they say

This week, a unanimous U.S. Supreme Court ruled that the Securities Litigation Uniform Standards Act grants state courts the jurisdiction to hear class action claims under the Securities Act of 1933.

Alex G. Romain

Partner
Jenner & Block LLP

litigation

Email: aromain@jenner.com

Alex is a leading national trial lawyer with nearly 20 years of experience in high-stakes, complex commercial litigation and white collar criminal defense.

See more...

Jenna G. Williams

Associate
Hueston Hennigan LLP

Email: jwilliams@hueston.com

Jenna is a litigation associate in the firm's Los Angeles office. Her practice focuses on high-stakes business disputes and complex litigation.

See more...

Federal securities statutes say what they say
Justice Elena Kagan, third from left, authored the opinion in the Cyan case. She commented at oral argument in another securities case earlier this year that the statute at issue "says what it says." (New York Times News Service)

This week, a unanimous U.S. Supreme Court ruled that the Securities Litigation Uniform Standards Act grants state courts the jurisdiction to hear class action claims under the Securities Act of 1933. Cyan v. Beaver County Employees Retirement Fund, 2018 DJDAR 2511 (March 20, 2018). For the plaintiffs' bar, it is an unequivocal win that allows the bar to shop for more favorable forums. For companies and defense lawyers in California, it mean...

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