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An exasperated Supreme Court justice used the word 'gibberish' three times during arguments in Cyan v. Beaver County Employees Retirement Fund. (Photo: AP)

The U.S. Supreme Court on Tuesday seemed to agree on one aspect of a 1998 statute aimed at reforming securities litigation: It’s all gibberish.

An exasperated Justice Samuel Alito Jr. used the word “gibberish” three times during arguments in Cyan v. Beaver County Employees Retirement Fund. The California case asks the high court to interpret the language of the Securities Litigation Uniform Standard Act regarding state jurisdiction over securities class actions.

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