The National Law Journal
According to Morrison & Foerster partner Anna Erickson White in The National Law Journal article “It’s ‘Gibberish’! Justices Throw Up Their Hands in Dispute Over State Securities Class Actions,” the confusion over the language in the Securities Litigation Uniform Standards Act could lead judges to favor Cyan in the Supreme Court case Cyan v. Beaver County Employees Retirement Fund.
“They were definitely grappling with the statute,” she said, “and that puts more emphasis on the intent of the statute,” which she said was to curb abusive class actions – in part by keeping the litigation out of state courts.
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