Statutory Interpretation – Securities Litigation Uniform Standards Act of 1998

By: Derek Hawkins//April 5, 2018//

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United States Supreme Court

Case Name: Cyan, Inc., et al. v. Beaver County Employees Retirement Fund, et al.

Case No.: 15-1439

Focus: Statutory Interpretation – Securities Litigation Uniform Standards Act of 1998

This case presents two questions about the Securities Litigation Uniform Standards Act of 1998 (SLUSA), 112 Stat. 3227. First, did SLUSA strip state courts of jurisdiction over class actions alleging violations of only the Securities Act of 1933 (1933 Act), 48 Stat. 74, as amended, 15 U. S. C. §77a et seq.? And second, even if not, did SLUSA empower defendants to remove such actions from state to federal court? We answer both questions no.

Affirmed

Dissenting:

Concurring:

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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