The Private Securities Litigation Reform Act (“PSLRA”), 15 U.S.C. § 77z-1(b)(1), provides that discovery should be automatically stayed in Securities Act actions at the motion to dismiss stage. Though Securities Act claims may be brought in either state or federal courts, courts are divided over whether the PSLRA discovery stay applies in both state and federal court or solely applies in federal court. This Contribution argues that the PSLRA discovery-stay provision should apply in any action under the Securities Act, regardless of venue.
May bankruptcy courts assume “related to” jurisdiction under 28 U.S.C. § 1334(b) over a post-confirmation successor liability suit when the estate’s assets have already been disbursed? Michael Murray (’17) examines this question, based on his experience at the 2016 Duberstein Moot Court Competition, sponsored by St. John’s University School of Law. His Contribution analyzes the legal landscape of “related to jurisdiction” in bankruptcy courts. Ultimately, the Contribution proposes that the Seventh Circuit has adopted the clearest interpretation of the statute and reasonably limits “related to” jurisdiction to disputes in which either the debtor is a party or the dispute affects the amount or distribution of the debtor’s estate.