Brody

ORDER DENYING MOTION TO REMAND; ORDER DENYING MOTION FOR ATTORNEYS’ FEES.

This matter is before the Court on Plaintiffs Motion to Remand and for Attorneys’ Fees (docket # 16). The Court deems this matter appropriate for decision without oral argument. See Fed.R.Civ.P. 78; Local Rule 7-15. Accordingly, the hearing set for January 13, 2002, is removed from the Court’s calendar.

Plaintiff filed a class action lawsuit in Los Angeles Superior Court on September 23, 2002, asserting three claims based on the Securities and Exchange Act of 1933 (“the 1933 Act”) against Defendant Home-store, Inc. (“Homestore”) and others. Plaintiff alleges that certain business transactions between Homestore and non-party America Online (“AOL”) constitute a type of “kick back” scheme that artificially inflated Homestore’s revenues. Plaintiff alleges that these practices do not comply with generally accepted accounting principles (“GAAP”).

On October 17, 2002, Defendants removed this action pursuant to the Securities Litigation Uniform Standards Act of 1998 (“SLUSA”). The sole issue before the Court at this time is whether the present action is removable pursuant to SLU-SA.

State and federal courts had…