For the question "Does the court have subject matter jurisdiction over this action" Yes because the action is based on a violation of federal securities law. Option B. This is further explained below.
<h3>What is
jurisdiction?</h3>
Generally, jurisdiction is simply defined as the authority to issue binding rulings in a legal matter.
In conclusion,"Does the court have subject matter jurisdiction over this case." In this case, yes, since the alleged wrongdoing constitutes a violation of federal securities laws.
CQ
Three shareholders brought an action in federal district court for a violation of federal securities law against a corporation. The shareholders sought certification of a class of all persons who had purchased stock during a two-year period. The members of the class suffered damages that ranged from $75 to $65,000, with the total damages sought-just exceeding $3 million. Some members of the class are citizens of the same state as the corporation but none of the three representative shareholders is a citizen of the same state as the corporation.
Does the court have subject matter jurisdiction over this action?
Yes, because none of the three representative shareholders is a citizen of the same state as the corporation.
Yes, because the action is based on a violation of federal securities law.
No, because no member of the class has suffered damages in excess of $75,000.
No, because some members of the class are citizens of the same state as the corporation.
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