City of Cleveland v. Ameriquest Mortgage Securities, Inc.

OPINION

SUHRHEINRICH, Circuit Judge.

In this diversity case, the city of Cleveland, Ohio (“Cleveland”), brings a public nuisance suit against twenty-two financial entities (“Defendants”) that it claims are responsible for a large portion of the subprime lending market in Cleveland and nationally. 1 Cleveland argues that the Defendants’ financing of subprime mortgages, the alleged public nuisance, led to a foreclosure crisis in Cleveland that devastated its neighborhoods and economy. On appeal, Cleveland initially contends that the district court erred when it refused to remand this suit to Ohio…