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K&L Gates LLP

Seventh Circuit Strikes Down Delaware Forum Selection Clause and Clears Path to Federal Court for Securities Exchange Act Claims

K&L Gates LLP on

The Seventh Circuit issued a resounding message: Delaware forum selection clauses in corporate bylaws cannot lawfully prevent a plaintiff from bringing claims under the Securities Exchange Act of 1934 (the Exchange Act or the...more

Proskauer - Corporate Defense and Disputes

Seventh Circuit Reverses Dismissal of Derivative Action Based on Forum Clause as Applied to Federal Claim

Proskauer - Corporate Defense and Disputes on

A recent Seventh Circuit decision in Seafarers Pension Plan v. Bradway may complicate defendants’ ability to use forum-selection bylaws as a basis for dismissal of derivative suits pleading claims under the Securities...more

Jenner & Block

Seventh Circuit Overrides a Forum Selection Bar in Federal Securities Lawsuits

Jenner & Block on

A recent ruling by the Seventh Circuit in Seafarers Pension Plan v. Bradway addresses the issue of where shareholder derivative lawsuits may be filed when the company at issue has a forum selection clause in its bylaws. The...more

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