U.S. Supreme Court
New York state court judges grappled in 2019 with the fallout from the U.S. Supreme Court’s Cyan decision last year, which held that class actions under the Securities Act of 1933 may be brought in state court.
The unanimous March 2018 decision from the high court has touched off an influx of securities suits filings in state courts across the country, with New York getting the bulk of new cases. State Supreme Court justices, meanwhile have had to parse through several important issues in the post-Cyan landscape, often reaching conflicting decisions that have set up the need for guidance from appellate courts in the coming year.
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