In a unanimous 2018 decision, the U.S. Supreme Court held that under the Securities Litigation Uniform Standards Act of 1998, (1) state courts have jurisdiction over class actions alleging violations of only the 1933 Act and (2) defendants are not permitted to remove such actions from state court to federal court.

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The U.S. Supreme Court's decision in Cyan, Inc. v. Beaver County Employees Retirement Fund affirmed that state courts have jurisdiction over class actions based on the Securities Act of 1933 and that such cases cannot be removed to federal court, upholding the dual jurisdiction system for securities litigation.

In a Unanimous 2018 Decision, the U