Supremes Hold SLUSA Is Clear – 33 Act Class Claims Stay in State Court

By Cody Wigington on March 22, 2018 Posted in Securities

Yesterday, the United States Supreme Court, in a unanimous decision, handed class action plaintiffs a victory by holding that the Securities Litigation Uniform Standards Act of 1998 (SLUSA) allows them to pursue alleged violations of the Securities Act of 1933 (the 33 Act) in state court. Securing plaintiffs’ ability to pursue these claims in state … Continue Reading

U.S. Supreme Court To Review Fifth Circuit’s SLUSA Decision in Stanford Ponzi Scheme Case

By Shawn P. Hough on January 28, 2013 Posted in Class Action Trends, Securities

Co-author: Frank Oliva The Supreme Court recently granted certiorari to examine the “in connection with” requirement of the Securities Litigation Uniform Standards Act (“SLUSA”) in Chadbourne & Parke LLP v. Troice, No. 12-79. SLUSA generally precludes state law securities class actions when there is a misrepresentation or omission “in connection with the purchase or sale … Continue Reading

Ninth Circuit: SLUSA Does Not Bar State Law Breach of Contract Claims

By Shawn P. Hough on January 15, 2013 Posted in Securities

The Securities Litigation Uniform Standards Act of 1998 (“SLUSA”) is a federal law that bars state law securities class actions alleging misrepresentations or omissions related to the purchase or sale of certain covered securities. In an opinion filed on January 2, 2013, the Ninth Circuit held that SLUSA does not preclude certain state law securities … Continue Reading