Judge: Removal Of Securities Class Action To Federal Court Barred By SLUSA
(February 11, 2016, 4:59 PM EST) -- SAN JOSE, Calif. — A federal judge in California on Jan. 20 remanded a securities class action lawsuit to state court, ruling that removal to federal court is barred by the Private Securities Litigation Reform Act of 1998 (SLUSA) (Gary Buelow, et al. v. Alibaba Group Holding Limited, et al., No. 15-5179, N.D. Calif.; 2016 U.S. Dist. LEXIS 7444).
(Order available. Document #57-160216-058R.)
Shareholders filed three separate but identical securities class action lawsuits in the San Mateo County, Calif., Superior Court, naming Alibaba Group Holding Limited,...