Webster v. New York Life Ins. and Annuity Corp.

MEMORANDUM AND ORDER

BUCHWALD, District Judge.

In March of 2005, defendant New York Life Insurance and Annuity Company (“NYLIAC”) removed this case from the Supreme Court of the State of New York and moved to dismiss pursuant Fed R. Civ. P. 12(b)(1) on the grounds that plaintiffs claims are barred by the Securities Litigation Uniform Standards Act of 1998 (“SLUSA”). Shortly thereafter, Frederick Webster, Sr. (“Webster”) and David Avant (“Avant”) (collectively, “plaintiffs”) moved for remand on the ground that their complaint alleges only state law claims and diversity of citizenship is absent.…