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Sagot :
Answer:
Yes. The federal court has subject matter jurisdiction over the action because it is based on a federal statute.
Explanation:
While the state court will always have subject matter jurisdiction over most cases involving citizens of the same state, the statute under contention is a federal statute, and the defendant is claiming that the transaction violated some federal securities statutes. Moreover, the amount that the plaintiff is asking for is more than $75,000. As it is, the federal court has subject matter jurisdiction to hear the case.
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