Author: Adam Lurie

Supreme Court Upholds State Court Jurisdiction Over Securities Act Claims

In a unanimous decision, the U.S. Supreme Court has held that U.S. state courts have jurisdiction over securities class action lawsuits alleging only claims under the Securities Act of 1933 (the “Securities Act”), leaving open at least one way for plaintiffs to obtain what is often perceived as a more favourable state court forum. The question of whether a lawsuit belongs in federal or state court has been one of the key issues in the securities class action world since enactment of the Priva