By Shayne Clinton and Britt Latham ( May 8, 2018, 1:40 PM EDT) -- On March 20, 2018, a unanimous U.S. Supreme Court in Cyan Inc. v. Beaver County Employees Retirement Fund answered two questions concerning investors' ability to pursue alleged violations of the Securities Act of 1933 in state and federal courts. First, the Supreme Court held that, while the Securities Litigation Uniform Standards Act of 1998 "completely disallows" certain state law claims, SLUSA "did nothing to strip state courts of their longstanding jurisdiction to adjudicate class actions alleging only 1933 Act violations." By this ruling, the Supreme Court ended a long-running split among the courts by confirming concurrent state and federal court jurisdiction over class actions alleging only 1933 Act violations. Second, the Supreme Court went further and concluded that SLUSA does not authorize defendants to remove such actions from state to federal court....