3 Insights To Clarify Securities Act Class Action Removal

17 November 2014
Sixteen years after Congress passed the Securities Litigation Uniform Standards Act, federal courts remain sharply divided on a fundamental issue in securities litigation: whether, after the SLUSA, class actions asserting claims under the Securities Act may be removed to federal court. To date, of 36 cases, district courts granted remand in 22 and denied remand in 14, and courts that arrive at the same disposition often vary widely in their underlying reasoning.