Securities Act Claims Subject To SLUSA Anti-Removal Provision, Judge Rules
(May 12, 2016, 5:42 PM EDT) -- SAN FRANCISCO — Remand of a securities class action lawsuit to state court is proper because the claims, which were brought under the Securities Act of 1933, are subject to the anti-removal provision of the Securities Litigation Uniform Standards Act (SLUSA), a federal judge in California ruled May 5 (Electrical Workers Local #357 Pension and Health & Welfare Trusts v. Clovis Oncology Inc., et al., No. 16-00933, N.D. Calif.; 2016 U.S. Dist. LEXIS 60086).
(Order available. Document #57-160516-038R.)
Shareholder Electrical Workers Local #357 Pension and Health...