7th Circ. Keeps Northwestern Mutual Annuity Row in US Court

Law360, New York (December 6, 2012, 6:08 PM EST) -- The Seventh Circuit has decided that a suit accusing Northwestern Mutual Life Insurance Co. of breaching contracts with annuity holders cannot be kept out of federal court under a corporate governance exception in the Class Action Fairness Act, according to a ruling released Thursday.

A three-judge appeals court panel unanimously ruled Nov. 28 that a district court was wrong to remand the case to Wisconsin state court on the argument that the suit was a matter of corporate governance under state law and therefore an exception...
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