The D&O Diary (Kevin M. LaCroix)

A third California state court has ruled that a provision specifying that federal courts are the exclusive forum for the resolution of aEUR~33 act liability actions is valid and enforceable. This latest decision aEUR" in a state court securities class action lawsuit pending against Dropbox aEUR" suggests that a broad consensus is emerging in California court to enforce federal forum provisions. But while the Dropbox decision is largely consistent with the prior California state court decisions enforcing FFP, there are certain features of the Dropbox decision that make it noteworthy and interesting in its own right. A copy of the December 4, 2020 decision in the Dropbox case can be found here. A December 8, 2020 memo from the Seyfarth Shaw law firm about the ruling can be found here.

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