Securities Law | Expert Legal Commentary
March 11, 2009
Katz v. Gerardi: CAFA Trumps Anti-Removal Provisions of 1933 Act
Katz v. Gerardi
By
Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP
In Katz v. Gerardi, 552 F.3d 558 (7th Cir. 2009), the Seventh U.S. Circuit Court of Appeals splits with the Ninth Circuit in determining that a securities class action can be removed to federal court under the Class Action Fairness Act of 2005 despite the anti-removal provisions of the Securities Act of 1933. Writing for the court, Judge Frank Easterbrook takes the Ninth Circuit to task for failing to properly read and apply the statutes at issue.
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About the Authors
Josh Lawler is a Partner of Zuber & Taillieu LLP, focusing on corporate law and securities and finance law.
Joel B. Ginsberg is an Associate of Zuber & Taillieu LLP, focusing on corporate law, and securities and finance law.
Image Credit: ©iStockphoto.com/elusariot
View a PDF of the judicial opinion