A plaintiff in securities fraud litigation usually has a whole arsenal of legal theories to pursue. If the securities transaction touched several states, in addition to federal remedies, the plaintiff may have remedies available under two or more state securities acts. In multi-state transactions, lawyers naturally assume that the court must select among state remedies by applying conflict of laws principles. That natural inclination is generally unnecessary.
Jack E. McClard,
The Applicability of Local Securities Acts to Multi-State Securities Transactions,
U. Rich. L. Rev.
Available at: http://scholarship.richmond.edu/lawreview/vol20/iss1/4