High Court Sets Argument Time In Appeal Of Securities Class Action Ruling

Mealey's (November 7, 2017, 2:13 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Nov. 6 issued an order granting in part a motion filed by U.S. Solicitor General Noel J. Francisco to participate in oral arguments as amicus curiae in an appeal of a California Superior Court ruling that shareholders in a securities class action are not preempted from bringing their claims under the Securities Act of 1933 by the Securities Litigation Uniform Standards Act (SLUSA) because the provisions of SLUSA divest state courts of jurisdiction over Securities Act claims (Cyan Inc. v. Beaver County Employees Retirement Fund, et al., No. 15-1439, U.S. Sup.)....