The U.S. Supreme Court's decision last
month in the Morrison v. National Australia Bank case made it clear
U.S. securities laws do not allow so-called "f-cubed"
cases -- securities claims against foreign domiciled companies and brought
by foreign-domiciled claimants who purchased their...
by Michele Rose, Christian Word, Jessica Phillips
and Kamil Redmond
The United States Supreme Court recently rejected years of
federal jurisprudence on the extraterritorial application of §10(b) of the
Securities Exchange Act. In Morrison v. National Australia Bank, No. 08-1191,
the Court held...
On September 14, 2010, in another ruling that the U.S.
Supreme Court's decision in Morrison v. National Australia Bank ( read the opinion ) precludes claim by "f-squared"
claimants - that is, U.S. residents who purchased shares of a Non-U.S. company
on a foreign exchange - Southern District...
In the year since the Supreme
Court issued its decision in Morrison regarding "foreign cubed"
securities claims, where the Court held that federal securities statutes do not
apply, lower federal courts have applied Morrison inconsistently. James M.
Wilson Jr., partner at Chitwood Harley Harnes...
In Morrison v. National Australia Bank, Ltd., 130 S.Ct. 2869 (2010) [ an enhanced version of this opinion is available to lexis.com subscribers ] the Supreme Court delimited the reach of Exchange Act Section 10(b) to the shores of the United States. The Court held that the question regarding the reach...