Yesterday the U.S. Supreme Court heard oral argument in Standard Fire Insurance Co. v. Knowles, its first case involving the Class Action Fairness Act of 2005 (CAFA).  The case involves whether a named plaintiff can evade federal jurisdiction under CAFA by stipulating that he will not seek more than $5 million on behalf of the putative class.  I represent Standard Fire in this case (it was my first time at counsel table for a U.S. Supreme Court oral argument), so I will not be able to give you my prediction on what the outcome might be.  But you can read the transcript, and the media coverage on the case, such as the Washington Post article, New York Times article, Insurance Journal piece, Wall Street Journal editorial and Fortune magazine article.  There is also a blog piece on the Class Action Defense Blog.  In accordance with the Court’s custom, the case will be decided no later than the end of June.