Day Pitney Attorneys Discuss Impact of Standard Fire v. Knowles on Class Actions in Law360 Article
April 9, 2013
Partners Elliot Ostrove and Beth Sher and associate Andr?s Acebo authored an article on the Supreme Court's Standard Fire v. Knowles decision, The decision clarified a removal provision of the Class Action Fairness Act of 2005 by ruling that a plaintiff's stipulation was not an appropriate factor by which to judge whether total class damages would exceed the $5 million threshold for federal jurisdiction. Their article, "The Road That Led to Standard Fire V. Knowles," appeared on April 8, and they write that, "Standard Fire settles the circuit split on whether precertification damages stipulations are a colorable way of preventing federal removal. The Supreme Court's opinion breathes strength into CAFA's congressional intent and, in the process, ensures defendants the viability of federal removal at a time when class-plaintiffs scour the country for favorable state forums."
White Collar attorneys John Vukelj, Sarah Krissoff and Gregory R. Bruno authored an article for the New York Law Journal titled, "Stock Trading Plan Rule Amendments Augur Changes to Securities Fraud Litigation."