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October 5, 2008

CAFA v. Securities Exchange Act Antiremoval Provision

There's an interesting case from the Southern District of New York, unfortunately not on line but if you have westlaw, click here, New Jersey Carpenters Vacation Fund v. Harborview Mortg. Loan Trust 2006-4, 2008 WL 4369840 (S.D.N.Y. Sept. 24, 2008). It addresses whether the removal provision of the Class Action Fairness Act of 2005, Pub.L. 109-2, § 4(a), 119 Stat. 9, Feb. 18, 2005 (“CAFA”), trumps the anti-removal provision of Section 22(a) of the Securities Act of 1933, 15 U.S.C. § 77a et seq.

The court relies on the "general/specific" rule, legislative history, and some guessing, to harmonize the two.

October 5, 2008 in Current Affairs | Permalink

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