Eminence Investors, LLLP v. Bank of New York Mellon

In 2011, Eminence Investors, LLLP (Plaintiff) brought suit against against The Bank of New York Mellon (Defendant). Nearly two years later, Plaintiff filed an amended complaint adding class allegations on behalf of more than 100 class members and requesting compensatory damages expected to exceed $10 million. Within thirty days of the filing of the complaint, Defendant removed the action to federal court pursuant to the Class Action Fairness Act (CAFA). Plaintiff moved to remand the case to state court. The district court remanded the case to state court, concluding that removal was untimely. Defendant appealed. A panel of the Ninth Circuit dismissed for lack of subject matter jurisdiction the appeal, holding that the securities exception from CAFA removal applied to this case. View "Eminence Investors, LLLP v. Bank of New York Mellon" on Justia Law