Larry Lay v. Burley Stabilization Corporati

I concur in the majority’s conclusions that (1) removal of this action to federal court was proper, (2) issue preclusion bars the instant suit because the identical issue of whether plaintiffs’ claims are derivative or direct was litigated and decided in a *757previous suit between the parties, and (3) even if issue preclusion did not apply, the plaintiffs’ claims are derivative under Tennessee law and the plaintiffs have failed to comply with the demand requirement for derivative suits. I write separately to explain my disagreement with the majority on the proper basis for removal of this action…