Judge: Defendants Failed To Show That Removal Of Securities Suit Is Proper

Judge: Defendants Failed To Show That Removal Of Securities Suit Is Proper

NEW YORK - Defendants in a securities lawsuit filed by Allstate Insurance Co., two of its subsidiaries and two Allstate-sponsored Employee Retirement Income Security Act plans (collectively, Allstate) have failed to show that removal of the action from state court is proper under the Edge Act, a federal judge in New York ruled March 14 in remanding the action to state court (Allstate Insurance Co., et al. v. CitiMortgage, Inc., et al., No. 11-1927, S.D. N.Y.).

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