On December 30, 2021, the Administrative Judge for the civil branch of the New York Supreme Court, New York County, issued an administrative order concerning actions filed in New York County pursuant to the federal Securities Act of 1933 (“Securities Act”). The order requires that all such actions that are currently pending or which may be commenced in the future in New York County shall be assigned to Justice Andrew Borrok, a justice of the Commercial Division.
Notably, as discussed in a
prior post, Justice Borrock has previously held that the automatic stay of discovery provided for in the Private Securities Litigation Reform Act of 1995 applies in state court, rather than only in federal court.
