Herman
Herman Ex Rel. General Public v. Salomon Smith Barney, Inc.
Opinion
Opinion
Whelan, J.
ORDER GRANTING DEFENDANTS’ MOTION TO DISMISS; DENYING PLAINTIFF’S MOTION TO REMAND
Defendants Salomon Smith Barney, Inc., et al., (“Defendants”) move to dismiss pursuant to Rules 12(b)(1) and 12(b)(6) of the Federal Rules of Civil Procedure. Plaintiff Jerome Herman (“Plaintiff’) opposes. The Court decides the matter on the papers submitted and without oral argument pursuant to Civil Local Rule 7.1.(d.l). For the reasons outlined below, the Court GRANTS Defendants’ motion to dismiss.
I. Background
On December 6, 2002 Plaintiff commenced this action in San Diego Superior Court alleging that Defendants violated California Business and Professions Code § 17200, et seq. (the “Unfair Competition Law,” hereinafter “UCL”) in connection with municipal bond sales. More specifically, Plaintiff alleges that Defendants charged excessive fees on Triple A and Double A secondary market municipal bonds and then failed to disclose such markups to consumers.
On January 3, 2003 Defendants removed the case to this Court pursuant to 28 U.S.C. § 1441 . According to Defendants, federal jurisdiction is proper because federal law interpretation is required to resolve the case. Additionally, Defendants…