United States Ninth Circuit

In an action alleging, inter alia, violations of Arizona law by incorporation of false financial information into defendant's regulatory filings on which plaintiffs relied in making several loans and granting several loan-related concessions to defendant and its affiliates, removal and dismissal of the suit are affirmed as: 1) under the standards the Supreme Court announced in Merrill Lynch v. Dabit, 126 S.Ct. 1503 (2006), plaintiffs' lawsuit is clearly covered by the Securities Litigation Uniform Standards Act (SLUSA); 2) the suit was properly removed to federal court under SLUSA; and 3) the district court properly dismissed the complaint with prejudice.

Appellate Information

• Argued 04/19/2007
• Decided 07/13/2007
• Published 07/13/2007

Judges

• MILAN D. SMITH, JR., Circuit Judge:, Before:  STEPHEN REINHARDT, JAY S. BYBEE, and MILAN D. SMITH, JR., Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• George C. Lazar, Fox Johns Lazar Pekin & Wexler, APC, San Diego, CA, for the plaintiffs-appellants.


• For Appellees:
  
• David M. Furbush, O'Melveny & Myers LLP, Menlo Park, CA, for the defendants-appellees.