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The Supreme Court’s Cyan Decision: Implications for Securities Class Actions  

Author:  Martin L. Seidel.; Mary Eaton.

Source: Volume 52, Number 07, April 1 2019 , pp.69-75(7)

Review of Securities & Commodities Regulation

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In the Cyan case the Supreme Court held that SLUSA did not bar state courts from hearing 1933 Act class actions. The authors discuss the case and its aftermath. They then turn to post-Cyan litigation strategies, including stays based on duplicative actions, PSLRA requirements, jurisdictional issues, pleading standards, and corporate forum selection clauses.

Keywords:  Securities Litigation Uniform Standards Act of 1998 (“SLUSA”) ; Cyan, Inc. v. Beaver Cnty. Employees Ret. Fund; Use of State Courts to Resolve 1933 Act Claims; Parallel Proceedings; PSLRA Requirements; Sciabacucchi v. Salzberg; r Cnty. Employees

Affiliations:  1: Willkie Farr & Gallagher LLP; 2: Willkie.

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