Dell, Subsidiary Urge High Court To Apply Securities Discovery Stay In State Court

Mealey's (August 19, 2021, 7:14 PM EDT) -- WASHINGTON, D.C. — A discovery stay provision established in the Private Securities Litigation Reform Act (Reform Act) applies equally to federal and state securities litigation, Dell Technologies Inc. and others argue in their Aug. 18 petitioners merits brief to the U.S. Supreme Court, asserting that California state courts and investors suing over purported securities violations related to the initial public offerings (IPO) of Dell subsidiary Pivotal Software Inc. provided no authority for applying the provision to only federal litigation....