(United States First Circuit) - In a case arising out of the near-collapse of the mortgage-backed securities market,alleges that various rating agencies falsely gave out triple-A ratings to mortgage-backed securities they knew were far riskier than indicated by their pristine ratings, the District Court's dismissal of plaintiff's claims on jurisdictional grounds is reversed where it erred in finding that it lacks statutory power to transfer this action to another federal court in which personal jurisdiction over certain defending parties may be met.
Source: findlaw.com