On April 28, 2022, the Court of Appeals of California, First District, upheld a corporate charter provision requiring shareholders to file Securities Act of 1933 (“Securities Act”).
This quarter’s issue of Inside the Courts An Update From Skadden Securities Litigators includes summaries and associated court opinions of selected cases principally decided in.
In the Wake of the Pandora s Box Opened by the Supreme Court s Cyan Decision, Court to Address Discovery Stay Question in State Securities Act Cases | Seyfarth Shaw LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
On July 2, 2021, the Supreme Court granted the petition for writ of
certiorari in
Pivotal Software v. Tran, a case with significant implications for litigation brought under the Securities Act of 1933. The issue in
Pivotal Software is whether the provision in the Private Securities Litigation Reform Act of 1995 (PSLRA), which requires that “in any private action arising under” the Securities Act, “all discovery and other proceedings shall be stayed during the pendency of any motion to dismiss,”
1 applies to Securities Act cases brought in state court, and not just those in federal court.
This issue has taken on greater significance since the Supreme Court’s decision in
Supreme Court to Review Whether PSLRA Automatic Stay of Discovery Applies in Securities Act Cases Filed in State Court | Kramer Levin Naftalis & Frankel LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.