Securities,
California Courts of Appeal
May 2, 2022
1st District adopts Delaware forum scheme in state securities cases
“We’re thrilled with the court’s decision which will likely serve as a watershed moment and critical endorsement of companies’ battle against costly duplicative federal and state court securities litigation,” said Latham partner Melissa Arbus Sherry.
In a landmark decision on securities law, the California 1st District Court of Appeal on Thursday upheld a San Mateo County Superior Court decision to not exercise jurisdiction and enforce a forum selection clause provision of a company’s charter.
The three judge panel of the Court of Appeal extended a Delaware statutory scheme of forum selection to California.
“Under the internal affairs doctrine, California cou...
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