Defendant Alden wins a change from a local court in Marion County, Indiana to a federal court in Indiana. Emmis founder and CEO Jeff Smulyan originally sued Alden Global Capital on September 15, alleging breach of contract in their joint failed bid to take Emmis private. Alden says the change of venue is appropriate partially because "there is a reasonable probability that plaintiff will seek in excess of $75,000." Emmis remains a public company, after some of its preferred shareholders held out for a better deal, and the two sides couldn't reach agreement. Smulyan's JS Acquisition LLC offered owners of Emmis common stock $2.40 a share. "EMMS" has recently been trading below 90 cents. Check the stock movement here.