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Morrison Precludes Claims Based on Non-U.S. Purchased Shares, Even if Company Shares "Listed" in U.S.

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...

3Q10 Securities Class Action Filings Remain Below Historical Averages

New securities class action lawsuit filings in the third quarter of 2010 remained below longer term historical averages, although consistent with filing levels in more recent quarters. There were 39 new securities class action lawsuits filed in the third quarter, bringing the 2010 YTD total number...

Vivendi Court Narrows Securities Suit Class, Applying Morrison

In the long-awaited rulings on the post-trial motions in the Vivendi securities case , Judge Richard Holwell has entered a February 22, 2011 order materially narrowing the plaintiff class based on the U.S. Supreme Court's holding in Morrison v. National Australia Bank . A copy of Judge Holwell's...