Securities Suit In NY Court Survives Post-Cyan Dismissal Bid

Law360 (February 26, 2020, 9:31 PM EST) -- A New York judge on Wednesday kept alive the central claims in a shareholder suit accusing a Chinese peer-to-peer lender of hiding predatory practices ahead of its initial public offering, in what is among the first denials of a motion to dismiss in New York state court following a controversial 2018 U.S. Supreme Court decision.

Cyan v. Beaver County Employees Retirement Fund effectively allowed securities class actions to be concurrently pursued in both federal and state courts, the latter of which are perceived by some attorneys to be more plaintiff-friendly than federal courts due to what they believe are more relaxed...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!