News & Analysis as of

Removal Split of Authority

Proskauer - Law and the Workplace

Seventh Circuit Finds Article III Standing for an Illinois BIPA Claim

On May 5, 2020, the Seventh Circuit held that allegations that a defendant violated the Illinois Biometric Information Privacy Act (“BIPA”) by collecting a biometric information without first obtaining informed consent...more

Bass, Berry & Sims PLC

IPOs and Registered Offerings Beware – Supreme Court Decision Risks Increased Lawsuits in State Courts

On March 20, 2018, a unanimous United States Supreme Court, in Cyan, Inc. v. Beaver Cty. Employees Ret. Fund, No. 15-1439, 2018 WL 1384564, answered two questions concerning investors' ability to pursue alleged violations of...more

A&O Shearman

U.S. Supreme Court Holds In Cyan That SLUSA Does Not Divest State Courts Of Jurisdiction Over Federal Securities Act Claims And...

A&O Shearman on

On March 20, 2018, the Supreme Court of the United States, in a unanimous decision delivered by Justice Kagan, ruled that state courts have jurisdiction to adjudicate class actions brought under the Securities Act of 1933...more

Mintz

Issuers Face Changing Litigation Landscape, Challenges Due to Supreme Court Ruling

Mintz on

In a boon for public company shareholder plaintiffs this week, the U.S. Supreme Court upheld state courts’ concurrent jurisdiction over securities class actions alleging violations of certain federal securities laws. The...more

Perkins Coie

U.S. Supreme Court Confirms State Courts Can Resolve Covered 1933 Act Class Actions

Perkins Coie on

On Tuesday, a unanimous U.S. Supreme Court held that state courts have jurisdiction to hear “covered” class-action claims under the Securities Act of 1933 (1993 Act), and that defendants may not remove such claims to federal...more

Latham & Watkins LLP

Supreme Court: SLUSA Does Not Prohibit State Court Jurisdiction Over Securities Act Class Actions

Latham & Watkins LLP on

In Cyan, Inc., the Justices unanimously decide that state courts have jurisdiction over federal Securities Act class actions. Key Points: ..Resolves split of authority on whether the Securities Litigation Uniform...more

Pillsbury Winthrop Shaw Pittman LLP

Supreme Court Confirms State Court Jurisdiction of ’33 Act Claims

A unanimous ruling rejects arguments that SLUSA eliminates concurrent state-court jurisdiction of “covered class actions” brought under the Securities Act of 1933, or at least permits the removal of such actions. Supreme...more

Wilson Sonsini Goodrich & Rosati

U.S. Supreme Court Holds that Securities Act Class Actions May Be Brought in State Courts

Today, the Supreme Court of the United States held that state courts have jurisdiction over class actions brought under the Securities Act of 1933 (Securities Act) and that such actions filed in state court may not be removed...more

Allen Matkins

Cyan And The California Company

Allen Matkins on

On March 20, 2018, the United States Supreme Court issued its decision in Cyan, Inc. v. Beaver County Employees Retirement Fund, reaffirming that a class action alleging only violations of the federal Securities Act of 1933...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court Holds That Class Actions Brought Under Securities Act in State Court Are Not Removable

Today, in a unanimous decision, the U.S. Supreme Court held in Cyan, Inc. et al. v. Beaver County Employees Retirement Fund, et al., No. 15-1439, slip op. at __ (Mar. 20, 2018), that state and federal courts have concurrent...more

Kramer Levin Naftalis & Frankel LLP

Supreme Court to Determine State Court Jurisdiction of Class Actions Under Securities Act of 1933

On June 27, the Supreme Court granted certiorari in Cyan Inc. et al. v. Beaver County Employees Retirement Fund et al., agreeing to weigh in on whether state courts have jurisdiction to hear class action lawsuits brought...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court to Resolve Split on Removing Securities Act Claims to Federal Court

The Supreme Court granted the petition for certiorari in Cyan, Inc. v. Beaver Cty. Emps. Ret. Fund, No. 15-1439 (U.S. May 24, 2016) yesterday, setting the stage for the resolution of a long-standing division among federal...more

Beveridge & Diamond PC

Ninth Circuit Interprets CAFA Exception Narrowly, Facilitating Removal in Environmental Tort Cases

Creating a Circuit split, the Ninth Circuit held that a tort case against a Washington corporation did not fall under the so-called “local event” exception to the Class Action Fairness Act (“CAFA”) and, therefore, had been...more

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