Overview: Where foreign shareholders alleged that respondents violated § 10(b) of
the Securities and Exchange Act of 1934 and SEC Rule 10b-5 regarding
securities traded on foreign exchanges, dismissal was warranted because §
10(b) applied only to transactions in securities listed on domestic
exchanges and domestic transactions in other securities.
Judges: SCALIA, J.,
delivered the opinion of the Court, in which ROBERTS, C. J., and KENNEDY,
THOMAS, and ALITO, JJ., joined. BREYER, J., filed an opinion concurring in part
and concurring in the judgment. STEVENS, J., filed an opinion concurring in the
judgment, in which GINSBURG, J., joined. SOTOMAYOR, J., took no part in the
consideration or decision of the case.
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v. National Australia Bank Ltd: Supreme Court Closes the Border to Section