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Madden v. Cowen & Co., No. 07-15900

In a securities fraud action for misleading plaintiffs in connection with the sale of a closely held corporation to a publicly traded acquirer, the dismissal of the complaint is reversed where the non-applicability of the "Delaware carve-out" in the Securities Litigation Uniform Standards Act is a prerequisite to the district court's removal jurisdiction.

Read Madden v. Cowen & Co., No. 07-15900

Appellate Information

Argued and Submitted November 21, 2008

Filed August 7, 2009


Opinion by Judge Ikuta


For Appellants:

Phillip Borowski, San Francisco, CA

For Appellees:

Linda Goldstein, Covington & Burling LLP, New York, NY