Supreme Court Denies Insurance Exchange’s Managing Agent’s CAFA Reach Petition

(February 26, 2024, 1:16 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Feb. 26 denied a petition for a writ of certiorari filed by a reciprocal insurance exchange’s managing agent and attorney in fact who asked the justices to decide whether a state complaint alleging breach of fiduciary duty filed in the name of the exchange by several subscribers is a class action that belongs in federal court as those subscribers 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)....