Shearman And Sterling

Oct 09, 2020

Federal Forum-Selection Provisions in the Wake of Cyan and Salzberg

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FEDERAL FORUM-SELECTION PROVISIONS IN THE WAKE OF CYAN AND SALZBERG 

Following the March 2018 decision in Cyan Inc. v. Beaver County Employees Retirement Fund, there has been a proliferation of case filings asserting putative class action claims under the Securities Act in state courts throughout the United States.

Two days shy of the two-year anniversary of that decision, the Supreme Court of Delaware—in Salzberg v. Sciabacucchi—reversed a lower court decision and held that Delaware corporations can implement federal forum-selection provisions for Securities Act claims in their certificates of incorporation.

In this chapter of our 18th Annual Corporate Governance & Executive Compensation Survey, we discuss the impact both decisions have had on forum selection trends.

Read “Federal Forum-Selection Provisions in the Wake of Cyan and Salzberg.”

Authors and Contributors

Richard Alsop

Partner

Capital Markets

+1 212 848 7333

+1 212 848 7333

New York

Jeff Hoschander

Partner

Litigation

+1 212 848 7181

+1 212 848 7181

New York

Clare O’Brien

Partner

Mergers & Acquisitions

+1 212 848 8966

+1 212 848 8966

New York

Kristina L. Trauger

Partner

Capital Markets

+1 212 848 4879

+1 212 848 4879

New York