State Court Securities Lawsuits and the PSLRA in a Post-'Cyan' Era

State Court Securities Lawsuits and the PSLRA in a Post-'Cyan' Era


New York Law Journal
By: Israel David, Samuel P. Groner

New York Law Journal published an article by litigation partners Israel David and Samuel P. Groner discussing the Supreme Court's recent decision in Cyan, Inc. et al. v. Beaver County Employees Retirement Fund and the question of which provisions and elements of the Private Securities Litigation Reform Act of 1995 (PSLRA) apply to state court class action lawsuits asserting claims under the Securities Act of 1933 in light of Cyan. The article examines several key PSLRA provisions, including the PSLRA's automatic stay of discovery during the pendency of a motion to dismiss, and considers their post-Cyan applicability in the context of state court class action lawsuits asserting 1933 Act claims.

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