The D&O Diary

The D&O Diary

A PERIODIC JOURNAL CONTAINING ITEMS OF INTEREST FROM THE WORLD OF DIRECTORS & OFFICERS LIABILITY, WITH OCCASIONAL COMMENTARY

Tag Archives: Concurrent Jurisdiction

Libor-Scandal Litigation: After Federal Court Dismissal, Schwab Pursues State Court Suit

Posted in Libor Scandal
When Southern District of New York Judge Naomi Reice Buchwald entered her order in the consolidated Libor litigation on March 29, 2013, she dismissed the plaintiffs’ antitrust and RICO claims against the Libor rate-setting banks,  and she also declined to exercise supplemental jurisdiction over the plaintiffs’ state law claims, which she dismissed without prejudice. The upshot of … Continue Reading

So, There’s Concurrent State Court Jurisdiction for ’33 Act Suits, Right? Well…

Posted in Securities Litigation
On May 18, 2011, the California Intermediate Court of Appeals held in the Luther v. Countrywide Financial Corporation case that state courts have concurrent jurisdiction with federal courts to hear liability lawsuits under the Securities Act of 1933, and that more recent legislative enactments did not eliminate the concurrent state court jurisdiction for the plaintiffs’ … Continue Reading