Ninth Circuit -- FREEMAN INVESTMENTS, L.P. V. PACIFIC LIFE INSURANCE COMPANY

Exlcusive federal jurisdiction over securities fraud class-actions does not bar state suit where the plaintiff is arguing a point of contract interpretation and good faith/fair dealing, and not scienter for fraud.

Claim was in connection with the purchase or sale of securities, as the insurer used the income from policyholders to purchase securities.

Dismissal of class action with prejudice was error if individual claims were viable.

FREEMAN INVESTMENTS, L.P. V. PACIFIC LIFE INSURANCE COMPANY