A recent decision by the First Department of the New York Appellate Division held that the Private Securities Litigation Reform Act's automatic stay of discovery applies in state court, but not during the pendency of an...more
The Situation: A number of shareholder derivative lawsuits in federal court have been filed seeking to hold directors and officers of major companies accountable for alleged failures to uphold their companies' stated...more
7/20/2021
/ Board of Directors ,
Corporate Governance ,
Derivative Suit ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Forum Selection ,
Motion to Dismiss ,
Securities Regulation ,
Securities Violations ,
Shareholder Litigation ,
Shareholders
A recent decision by the New York Commercial Division held that the Private Securities Litigation Reform Act's automatic stay of discovery pending a motion to dismiss applies to Securities Act claims pursued in state court,...more
8/21/2019
/ Automatic Stay ,
Class Action ,
Commercial Court ,
Cyan Inc v Beaver Cty Emps Ret Fund ,
Discovery ,
Jurisdiction ,
Motion to Dismiss ,
NY Supreme Court ,
Private Securities Litigation Reform Act of 1995 ,
PSLRA ,
Securities Act of 1933 ,
Securities Litigation ,
SLUSA ,
Stays