Pair Of Securities Class Actions Remanded To State Court In Light Of Cyan

Mealey's (December 10, 2019, 2:21 PM EST) -- KNOXVILLE, Tenn. — A federal judge in Tennessee on Dec. 6 overturned his previous ruling denying remand of a pair of related securities class action lawsuits to state court, holding that in light of the U.S. Supreme Court’s ruling in Cyan Inc. v. Beaver County Employees Retirement Fund, the actions were improperly removed under the Securities Litigation Uniform Standards Act (SLUSA) (Kenneth Gaynor, et al. v. Deloy Miller, et al., No. 15-545, E.D. Tenn.)....