Eminence Investors, L.L.L.P. v. Bank of New York Mellon
Opinion
Lead Opinion
Ishii, J.
ORDER ADOPTING FINDINGS AND RECOMMENDATIONS TO GRANT PLAINTIFF’S MOTION TO REMAND
I. PROCEDURAL HISTORY
In this action Eminence Investors, L.L.L.P. and John Does (“Plaintiffs”) seek to recover for Defendant Bank of New York Mellon’s alleged breaches of duties it owed as the Indenture Trustee of bonds issued to fund the development of real property.
On November 23, 2011, Plaintiff Eminence initiated this action against Defendant and two California residents in Madera County Superior Court. On February 12, 2012, and August 23, 2013, respectively, the two California defendants were dismissed, resulting in complete diversity between the remaining parties. Defendant did not remove the case to Federal Court at that time.
On November 13, 2013, Plaintiff filed a First Amended Complaint, adding class allegations on behalf of more than 100 individuals each holding bonds having at least $5000 in face value.
On December 10, 2013, within thirty days of the filing of the First Amended Complaint, Defendant removed the action to this Court alleging federal jurisdiction under the Class Action Fairness Act (“CAFA”), 28 U.S.C. § 1453 . (ECF No. 1.) On January 9, 2014, Plaintiffs filed this…