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In a decision that could encourage attempts to litigate private securities cases before state judges, the 9th Circuit on Monday kicked an unfair competition suit out of federal court. Though the case, filed in California against investment banks over the marketing of callable certificates of deposit, was removed to federal court, a unanimous panel agreed that the suit alleged state violations sufficiently enough to avoid federal jurisdiction.
August 27, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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