NJ's Bid To Get Lehman Case To State Court Nixed

Law360, New York (May 18, 2010, 4:43 PM EDT) -- A federal appeals court has dismissed the state of New Jersey's challenge to a decision that rejected a bid to remand to state court its case against Ernst & Young LLP and Lehman Brothers Holdings Inc. executives and directors over an alleged $118 million in losses suffered by New Jersey's pension funds.

The U.S. Court of Appeals for the Third Circuit handed down a precedential opinion Monday granting a motion to dismiss the appeal for lack of jurisdiction.

In light of the Third Circuit's decision, it's...
To view the full article, register now.