On June 27, 2017, the U.S. Supreme Court granted a writ of certiorari in Cyan Inc. v. Beaver County Employees Retirement Fund to decide whether, pursuant to the Securities Litigation Uniform Standards Act of 1998 (SLUSA), state courts have concurrent subject-matter jurisdiction over class actions solely alleging violations of the Securities Act of 1933. The Securities Act creates liability in investor suits over securities offerings, including false registration statements (Section 11), false prospectuses (Section 12(a)(2)), and control person liability for violations of Section 11 or Section 12 (Section 15); therefore, cases involving these acts are typically related to initial public offerings (IPO), like Cyan.