One Year Later: The Reach of U.S. Securities Laws After Morrison

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...

Second Circuit Interprets Transaction Prong of Morrison Test

Recently, in Absolute Activist Value Master Fund Limited v. Ficeto , Docket No. 11-0221-cv, 2012 U.S. App. LEXIS 4258 (2d Cir. Mar. 1, 2012) [ an enhanced version of this opinion is available to lexis.com subscribers / unenhanced version available from lexisONE Free Case Law ], the Second Circuit interpreted...