More Cases Stripped From Reserve Securities MDL

Law360, New York (November 4, 2009, 3:08 PM EST) -- A month after remanding eight others, a federal judge has sent two more suits in securities multidistrict litigation against Reserve Management Co. Inc. back to the New York state court where they were originally filed, saying Reserve failed to show a basis for federal jurisdiction in any of the suits.

Judge Paul D. Gardephe of the U.S. District Court for the Southern District of New York on Tuesday granted Caxton International Ltd.'s and Verisign Sarl's motions to remand their cases against Reserve to the New York...
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