Judge Dismisses Securities Claims Pursuant To High Court's Ruling In Morrison

NEW YORK - Dismissal of federal securities law claims brought by foreign investors that purchased their shares on a foreign exchange is proper under the U.S. Supreme Court's ruling in Morrison v. National Australia Bank, Ltd. because the shares were not purchased on an American stock exchange, a federal judge in New York ruled Feb. 1 (In re Vivendi Universal S.A. Securities Litigation, No. 02-5571, S.D. N.Y.). Full story on lexis.com