David Rein and Matthew Schwartz Explain Cyan’s Ongoing Impact on Securities Act Claims for Practical LawJuly 10, 2020
S&C litigation partners David M.J. Rein and Matthew Schwartz discussed the ongoing impact of the Supreme Court’s ruling in Cyan v. Beaver County Employees Retirement Fund from 2018, and how that decision continues to shape the landscape for securities litigation.
In the Q&A, published by Practical Law, David and Matt examine securities litigation following Cyan, in which the Supreme Court unanimously ruled that the Securities Litigation Uniform Standards Act of 1998 (SLUSA) allows investors who assert class action claims under the Securities Act to bring those claims in state court. In the wake of Cyan, there has been a marked increase in the number of Securities Act class actions filed in state courts.
David and Matt discuss how state courts have addressed this increasing number of Securities Act claims, and offer practical recommendations to limit exposure to them. To read the full Q&A, click here.