Insurance Exchange’s Managing Agent Seeks U.S. High Court Review Of CAFA Reach

(February 14, 2024, 8:29 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court must decide whether a state complaint alleging breach of fiduciary duty filed in the name of a reciprocal insurance exchange by several subscribers who had earlier filed the same claims in their names on behalf of a class and then voluntarily dismissed the complaint after it was removed to federal court under the Class Action Fairness Act (CAFA) is a class action belonging in federal court pursuant to CAFA, the exchange’s managing agent and attorney in fact agues in a reply filed in the high court....