I’ll offer my observations about key activities at both the federal and state levels in the wake of the Reform Act. I’ll conclude by offering my opinion about whether, on the current record, the case for preemption has been made.
Section II of this Article sets forth our understanding of what the Reform Act requires a plaintiff to set forth in a complaint to state a valid claim that a corporation has made false or misleading public statements in violation of section 10(b) and Rule 10(b)(5). Section III describes our case study of GTF. Section IV analyzes the options a court would face in a case similar to the “quasi-hypothetical”…
Using an old marital saying to title this Article may mislead. In particular, owing to federal legislative attempts to preempt state securities law actions, all may not be, or remain, bliss in the state courts.