CHICAGO - Five southeastern Wisconsin school districts that last month filed a lawsuit against Stifel Nicolaus & Co. and the Royal Bank of Canada - alleging they misrepresented the safety of an investment transaction involving synthetic collateralized debt obligations - will fight efforts to move the case to federal court.

The five - Kenosha Unified School District, Kimberly Area School District, Waukesha School District, West Allis/West Milwaukee School District, and Whitefish Bay School District - collectively invested about $200 million in the transaction that was tied to funding their other post-employment benefits. They now estimate the value has dropped by more than $150 million.

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