def METHOD_NAME(scoped_class_name):
    """Load a formatter class by using its scoped class name.
    :param scoped_class_name:  Formatter module and class name (as string).
    :return: Formatter class.
    :raises: ValueError, if scoped_class_name is invalid.
    :raises: ImportError, if module cannot be loaded or class is not in module.
    """
    if ":" not in scoped_class_name:
        message = 'REQUIRE: "module:class", but was: "%s"' % scoped_class_name
        raise ValueError(message)
    module_name, class_name = parse_scoped_name(scoped_class_name)
    formatter_module = load_module(module_name)
    formatter_class = getattr(formatter_module, class_name, None)
    if formatter_class is None:
        raise ClassNotFoundError(scoped_class_name)
    elif not is_formatter_class_valid(formatter_class):
        # -- BETTER DIAGNOSTICS:
        formatter_class = BadFormatterClass(scoped_class_name, formatter_class)
    return formatter_class