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Securities Act of 1933 › SLUSA › Subject Matter Jurisdiction

The Securities Act of 1933 is a United States federal statute enacted in response to the stock market crash of 1929 and the ensuing Great Depression. The Act has two primary purposes: 1) to give investors better... more +
The Securities Act of 1933 is a United States federal statute enacted in response to the stock market crash of 1929 and the ensuing Great Depression. The Act has two primary purposes: 1) to give investors better access to material information prior to investing 2) ensure that transactions are not based on fraud. In order to effectuate its dual goals, the Act requires that any offer or sale of securities is registered with the SEC. less -
Bradley Arant Boult Cummings LLP

A Look Back at Significant Developments in Class Action Law in 2017

Bradley Arant Boult Cummings LLP on

From the standpoint of class action practice, 2017 was as important for what did not happen as for what did. Here are some of the highlights and lowlights of the 2017 class action scorecard, with a look forward to how the...more

A&O Shearman

U.S. Supreme Court Hears Oral Argument In Case That Raises Issue Of Whether State Courts Have Jurisdiction Over Securities Act...

A&O Shearman on

On November 28, 2017, the U.S. Supreme Court heard argument in Cyan, Inc. v. Beaver County Employees Retirement Fund, No. 15-1439, a case addressing whether state courts have jurisdiction over class actions asserting...more

Latham & Watkins LLP

Supreme Court Questions “Obtuse” Statute Addressing Jurisdiction Over Securities Act Claims

Latham & Watkins LLP on

Justices hear oral arguments on whether Plaintiffs can evade federal jurisdiction over Securities Act claims by exploiting what the Court calls statutory “gibberish” in the Securities Litigation Uniform Standards Act. ...more

A&O Shearman

United States Asks Supreme Court To Resolve Whether State Courts Have Jurisdiction Over Securities Act Claims, Arguing That State...

A&O Shearman on

On May 23, 2017, the Acting Solicitor General (“ASG”) filed a brief on behalf of the United States as amicus curiae urging the Supreme Court to grant the petition for a writ of certiorari in Cyan,Inc. v. Beaver County...more

Allen Matkins

Do State Courts Lack Subject Matter Jurisdiction Over Covered Class Actions That Allege Only ’33 Act Claims?

Allen Matkins on

In Luther v. Countrywide Financial Corp., 195 Cal. App. 4th 789 (2011), the trial court ruled that state courts do not enjoy concurrent jurisdiction when a class action meeting the definition of a “covered class action” under...more

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