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Mealeys

Mealey's Securities/D&O Liability - Court's Dismissal Of Investor Suit Based On International Comity Deemed Proper

NEW YORK - A Second Circuit U.S. Court of Appeals panel on Nov. 5 ruled that a federal district court did not abuse its discretion in dismissing an investor suit against a mining company and its CEO based on international comity because the company's Canadian bankruptcy proceeding was a parallel action and the district court did not ignore Second Circuit precedent that requires a showing of "exceptional circumstances" (EMA GARP Fund LP, et al. v. Banro Corp., et al., No. 19-662, 2nd Cir., 2019 U.S. App. LEXIS 33005).
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