Abada

ORDER DENYING MOTION TO DISMISS [doc. #]; VACATING THE COURT’S SEPTEMBER 7, 1999 ORDER [doc. #16]; STRIKING THE FIRST AMENDED COMPLAINT AND REMANDING THIS ACTION TO STATE COURT

Defendant Charles Schwab & Co., Inc. (“Schwab”) moves to dismiss plaintiffs First Amended Complaint (“FAC”) for failure to state a claim and for failure to meet the pleading requirements of the Private Securities Litigation Reform Act of 1995 (“PSLRA”) and Federal Rule of Civil Procedure 9(b). Having fully considered this motion and the record in this case, and finding this matter suitable for submission without oral argument pursuant to Local Civil Rule 7.1.d.l, the Court enters the following order.

BACKGROUND

Plaintiff filed his complaint in state court alleging five state-law causes of action. Defendant removed the action contending plaintiffs complaint actually was a securities fraud action and all plaintiffs claims were preempted by the Securities Litigation Uniform Standards Act of 1998 (“Uniform Standards Act”). Plaintiff sought to remand the action contending that Schwab’s misrepresentations were not “in connection with the purchase or sale of a covered security” within the meaning of 15 U.S.C. §…