High Court Strikes Supplemental Brief In SLUSA Preemption Suit

(January 8, 2018, 2:25 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Jan. 8 granted a communications networks hardware and software supplier’s motion to strike shareholders’ supplemental brief challenging a California Superior Court ruling that the shareholders in a securities class action are not preempted by the Securities Litigation Uniform Standards Act (SLUSA) from bringing their Securities Act of 1933 claims (Cyan Inc. v. Beaver County Employees Retirement Fund, et al., No. 15-1439, U.S. Sup.)....