Desmond
Desmond v. BankAmerica Corp.
Opinion
Opinion
Walker, J.
ORDER
Although the Securities Litigation Uniform Standards Act (Uniform' Act), 15 U.S.C. §§ 77p, 78bb(f), provides for removal of most securities class actions from state court, these five consolidated cases were commenced in San Francisco superi- or court prior to the Act’s effective date of November 3, 1998. After over a year of litigation in state court, defendants filed a notice of removal on December 16, 1999, asserting that an attempt by plaintiff to bring new class representatives into the case triggered the Uniform Act’s removal provision. Before the court is plaintiffs motion for remand.
The five putative class actions at bar allege violations of California Corporations Code sections 25400 and 25500 arising out of the merger between Bank of America and NationsBank. On March 18, 1999, the state court consolidated the cases and designated the complaint in Desmond as the operative complaint. In that complaint, plaintiff purports to represent a class of
Notice of Removal (Doc 1) at Exh B ¶ 1.
After consolidation, plaintiff moved for certification of a class of “[a]ll persons who purchased or otherwise acquired securities of BankAmerica Corporation or its predecessors…