{"argument_date":"2017-11-28T00:00:00Z","arguments":[{"argument_date":"2017-11-28T00:00:00Z","heading":"What happened at the argument","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2017","official_transcript_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","paragraphs":["Mr. Katyal argued Congress reacted to a new problem.","He said plaintiffs shifted litigation to state court.","Mr. Kedem argued SLUSA reestablished federal venue.","He said it did so by permitting removal."],"reargument":false,"sequence":1,"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 37-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 10, lines 37-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 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27-27","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 27-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 33-35","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 39-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 39-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 43-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 43-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 77, lines 53-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 77, lines 53-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 78, lines 27-29","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 78, lines 27-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 79, lines 51-15","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 79, lines 51-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 13-17","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 8, lines 13-17"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 15-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 9, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 31-37","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 9, lines 31-37"}]}],"caption":"Cyan, Inc. v. Beaver County Employees Retirement Fund","case_history":[{"changed_at":"2026-08-29T20:06:21.215373Z","explanation":"An official oral-argument transcript was verified.","status":"argued"},{"changed_at":"2026-08-29T20:06:21.245441Z","explanation":"An official oral-argument transcript was verified.","status":"argued"}],"case_status":"argued","dek":"the sides that brought the case want federal courts to handle these suits. the opposing sides want state courts to keep them.","dek_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 33, lines 35-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 33, lines 35-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 25-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 25-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 46, lines 19-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 46, lines 19-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 70, lines 37-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 70, lines 37-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 79, lines 51-15","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 79, lines 51-15"}],"dispositions":[],"latest_court_document_date":"2017-11-28T00:00:00Z","maturity":"official_transcript","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2017","official_disposition_urls":[],"official_docket_url":"https://www.supremecourt.gov/docket/docketfiles/html/public/15-1439.html","primary_docket":"15-1439","revisions":[{"correction_note":"Rewritten to the concise citizen-facing editorial standard.","created_at":"2026-08-31T19:48:32.710123Z","maturity":"official_transcript","revision_number":1},{"correction_note":"Migrated to the dated official Court activity contract without model use.","created_at":"2026-09-05T03:22:24Z","maturity":"official_transcript","revision_number":2}],"schema_version":"1.1","sections":[{"heading":"What this case is about","paragraphs":["This case tests the Securities Litigation Uniform Standards Act. It asks if state courts can hear large securities class actions. The law aims to move these cases to federal courts. The dispute centers on the statute's text. It defines covered class actions. It excludes certain federal claims. The parties disagree on this exclusion's meaning."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 33, lines 35-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 33, lines 35-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 25-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 25-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 46, lines 19-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 46, lines 19-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 70, lines 37-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 70, lines 37-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 79, lines 51-15","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 79, lines 51-15"}]},{"heading":"How the case got here","paragraphs":["The Supreme Court heard oral argument in this case on November 28, 2017."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 11-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 11-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 77, lines 53-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 77, lines 53-7"}]},{"heading":"What each side wants","paragraphs":["the sides that brought the case want federal courts to hear these suits.","the opposing sides want state courts to keep these suits."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 33, lines 35-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 33, lines 35-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 25-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 25-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 46, lines 19-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 46, lines 19-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 70, lines 37-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 70, lines 37-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 79, lines 51-15","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 79, lines 51-15"}]},{"heading":"What each side says","paragraphs":["the sides that brought the case argue SLUSA bars state court jurisdiction.","the opposing sides argue SLUSA only allows removal to federal court."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 33, lines 35-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 33, lines 35-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 25-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 25-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 46, lines 19-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 46, lines 19-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 70, lines 37-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 70, lines 37-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 79, lines 51-15","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 79, lines 51-15"}]},{"heading":"What the justices asked","paragraphs":["Justice Ginsburg asked if Congress used obtuse language.","Justice Sotomayor asked about the definition of covered actions."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 37-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 10, lines 37-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 45-11","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 10, lines 45-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 15-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 11, lines 15-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 13-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 12, lines 13-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 33-51","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 12, lines 33-51"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 55-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 12, lines 55-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 37-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 5, lines 37-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 6, lines 41-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 6, lines 41-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 47-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 7, lines 47-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 73, lines 21-27","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 73, lines 21-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 73, lines 49-53","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 73, lines 49-53"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 74, lines 37-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 74, lines 37-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 74, lines 43-45","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 74, lines 43-45"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 74, lines 49-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 74, lines 49-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 75, lines 41-51","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 75, lines 41-51"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 75, lines 55-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 75, lines 55-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 27-27","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 27-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 33-35","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 39-39","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 39-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 76, lines 43-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 76, lines 43-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 78, lines 27-29","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 78, lines 27-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 13-17","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 8, lines 13-17"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 15-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 9, lines 15-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 31-37","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 9, lines 31-37"}]},{"heading":"Why it matters","paragraphs":["This case defines where large securities suits belong. It shapes access to state and federal courts. It affects how investors seek redress. It clarifies the balance of judicial power."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 33, lines 35-9","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 33, lines 35-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 25-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 25-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 46, lines 19-21","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 46, lines 19-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 70, lines 37-19","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 70, lines 37-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 79, lines 51-15","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 79, lines 51-15"}]},{"heading":"What happens next","paragraphs":["This article currently covers the argument record. Use the official docket link for later case activity."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 37-41","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 10, lines 37-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 45-11","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 10, lines 45-11"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 15-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 11, lines 15-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 13-31","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 12, lines 13-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 33-51","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 12, lines 33-51"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 55-7","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 12, lines 55-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 4, lines 11-23","official_url":"https://www.supremecourt.gov/oral_arguments/argument_transcripts/2017/15-1439_4g15.pdf","page_label":"file page 4, lines 11-23"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 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