Countrywide Takes MBS Jurisdiction Dispute To High Court

Law360, New York (November 15, 2011, 9:32 PM EST) -- Countrywide Financial Corp. earlier this month asked the U.S. Supreme Court to weigh in on whether the Securities Litigation Uniform Standards Act grants federal courts exclusive jurisdiction over a class action linked to the collapse of mortgage-backed securities.

In a petition for a writ of certiorari filed Nov. 4, Countrywide asked the high court to reverse a California Court of Appeal's ruling that sent the suit — which has bounced between California state and federal courts for four years — back to the Los Angeles County...
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