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In this case, several class action suits, each involving more than 50 investors in covered securities, were brought in various state courts over the devaluation of the plaintiffs\u0027 investments by Putnam Funds Trust and other mutual funds. The mutual funds asked to have the cases heard in federal court, and the state courts agreed. The federal district court sent the cases back to the state courts, however, finding that SLUSA does not cover suits over devaluation, only those related to purchases or sales. When the mutual funds appealed the decision to the Seventh Circuit Court of Appeals, the plaintiffs objected to the appeal because 28 U.S.C. 1447(d) prohibits appeals court review of federal district court decisions to remand cases to state court for lack of jurisdiction. The appeals court, however, found that the district court\u0027s decision had been substantive, not jurisdictional, and was therefore not covered by 1447(d). The appeals court then ruled that the plaintiff\u0027s claims could not be brought under SLUSA.\u003C\/p\u003E\n","question":"\u003Cp\u003ECan a federal district court\u0027s decision to send a case back to state court because its removal to federal court was not required by the Security Litigation Uniform Standards Act be reviewed by a circuit court of appeals under 28 U.S.C. 1447(d)?\u003C\/p\u003E\n","conclusion":"\u003Cp\u003ENo. In an opinion by Justice David Souter, the Supreme Court unanimously held that the district court\u0027s decision had been jurisdictional and that the appeals court\u0027s review was therefore barred by 1447(d). Quoting \u003Cem\u003EBriscoe v. Bell\u003C\/em\u003E, 432 U.S. 404, Justice Souter wrote that \u0022where the order is based on one of the [grounds enumerated in 28 U.S.C. 1447(c)], review is unavailable no matter how plain the legal error in ordering the remand.\u0022\u003C\/p\u003E\n","advocates":[{"advocate":{"ID":36483,"name":"Mark A. 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