BCB Bid For Shareholder Suit Coverage Stays In Fed. Court
By Joshua Alston
Law360, New York (May 29, 2014, 7:47 PM ET) -- BCB Bancorp Inc. will face off against Progressive Casualty Insurance Co. in New Jersey federal court after a federal judge’s refusal on Wednesday to remand the case, in which BCB said Progressive shirked its duty to defend the bank in a post-merger class action.
U.S. District Judge Claire C. Cecchi ruled against BCB, declining to use the court’s discretion to remand the suit, based on the recommendation of a magistrate judge who determined New Jersey Superior Court is not the proper home for BCB’s suit against...