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Supreme Court to hear class-action dispute
Headline Legal News |
2014/04/08 12:30
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The Supreme Court will consider the requirements for transferring class-action lawsuits from state courts to federal courts.
The justices on Monday agreed to hear an appeal from a Michigan energy company that asserts it should be allowed to move a class-action case from Kansas state court to federal court. Federal law allows such transfers in cases involving more than $5 million.
A group of royalty owners sued the Dart Cherokee Basin Operating Co. alleging they were underpaid royalties on oil and gas wells. The plaintiffs did not seek a specific damage amount, but the company claimed it would far exceed $5 million.
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A federal judge rejected the transfer request because the company did not offer any evidentiary support. The company says the law does not require detailed evidence. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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