Tag: Private Securities Litigation Reform Act of 1995

Can SCOTUS make sense out of “gibberish”? SCOTUS hears oral argument in case addressing state court jurisdiction over ’33 Act cases

Yesterday, SCOTUS heard oral argument in Cyan Inc. v. Beaver County Employees Retirement Fund, which addressed whether state courts have jurisdiction over cases brought solely under the Securities Act of 1933.  Here is the transcript of the oral argument for Cyan, which is discussed briefly below.

SCOTUS grants cert in case involving whistleblower statute and case involving state court jurisdiction over ’33 Act cases

SCOTUS will be hearing at least two cases of interest next term: one case, Somers v. Digital Realty Trust, will address the split in the circuits regarding whether the Dodd-Frank whistleblower anti-retaliation provisions apply regardless of whether the whistleblower blows the whistle all the way to the SEC or just internally at the company. The second case,  Cyan Inc. v. Beaver County Employees Retirement Fund, will address whether state courts have jurisdiction over cases brought solely under the Securities Act of 1933 Act.

More on the SEC’s Disclosure Update and Simplification Proposing Release

by Cydney Posner In her statement at the SEC open meeting to vote on issuing the “Disclosure Update and Simplification Proposing Release,” SEC Commissioner Kara Stein protested that “this proposal may be framed in such a hyper-technical way that it fails to provide a bona fide opportunity for a wide […]