A Powerful Tool For Consumers And Their AGs

Law360, New York (January 16, 2014, 9:14 PM EST) -- On Jan. 14, 2014, in Mississippi v. AU Optronics Corp., the U.S. Supreme Court held that a parens patriae action (one brought by the state on behalf of its injured citizens) does not constitute a "mass action" and cannot be removed to federal court. As a result of the ruling, Mississippi (not a class) may sue on behalf of its harmed constituents (potentially a class) and prevent removal to federal court under the Class Action Fairness Act of 2005.

Although attorneys general have taken divergent positions...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.