News & Publications

Over a century ago, the Supreme Court of the United States held in Pennsylvania Fire Ins. Co. v. Gold Issue Mining Co., 243 U.S. 93 (1917), that a state could require out-of-state corporations to consent to general jurisdiction as a condition of registering to do business in that state. Out-of-state companies could, therefore, be sued in a state where they had registered to do business, even if the events giving rise to the suit occurred outside the [...]

In Short The Situation: The United States Court of Appeals for the Second Circuit recently decertified a class of stockholders who alleged that Goldman Sachs maintained an inflated share price by making misrepresentations about its business principles and conflict-of-interest policies. The Development: The Second Circuit applied the United States Supreme Court's "mismatch" framework to find that the stockholders could not rely on specific corrective disclosures and the resulting drop in stock price to show that Goldman's generic [...]

The U.S. Supreme Court, in an opinion by Justice Kavanaugh for a five-Justice majority, held in Coinbase, Inc. v. Bielski that when the losing party appeals a federal District Court's order denying a motion to compel arbitration, the District Court must stay its pre-trial and trial proceedings during the pendency of the interlocutory appeal. Kavanaugh, joined by Chief Justice Roberts and Justices Alito, Gorsuch, and Barrett, rejected Bielski's various arguments, holding that the outcome was compelled by the [...]