NY AG Wants Schwab ARS Suit Back In State Court

Law360, New York (October 23, 2009, 2:09 PM EDT) -- New York Attorney General Andrew Cuomo has asked a federal court to send an auction rate securities fraud suit against Charles Schwab Co. Inc. back to state court, saying the company improperly characterized the state of New York as a nominal party in the suit in a bid to change jurisdictions.

In a motion for oral argument filed Thursday in the U.S. District Court for the Southern District of New York, the attorney general took issue with the San Francisco-based discount brokerage firm's argument for diversity...
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