In the face of these alarming trends, the report advocates a number of reforms. First and foremost, the report advocates Congressional enactment of legislation overturning Cyan. Companies, the study notes, “should not have to incur the risk and costs of defending themselves in two or more different courts simultaneously.” Congress, the report suggests, should adopt legislation designating federal courts as the exclusive forum for litigation securities class action lawsuits under the federal securities laws.
via Chubb Sounds Securities Litigation Alarm, Calls for Reform | The D&O Diary.
