• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2008 / September / 08 / Alstom Court Excludes Certain European Investors from Class

Alstom Court Excludes Certain European Investors from Class

By Securities Docket on September 8, 2008, 11:16 am

As previously discussed briefly here, on August 27, U.S. District Judge Victor Marrero of the SDNY limited the class of investors who are part of the class action in his court against Alstom SA.

As reported by IPE.com, the judge ruled that the proposed class definition should be modified to “delete the inclusion of French persons or entities as to all defendants, English persons or entities as to Alstom, and Dutch persons or entities as to Alstom.”   IPE.com reports that the impact of this ruling is that:

  • French institutional investors that wish to bring a case against Alstom and/or the CEO and CFO must do so through the French courts.
  • English and Dutch investors that wish to bring a claim against the company must bring a separate action through their domestic legal system, or the European courts.

The court reportedly excluded French investors because it found that a French court is unlikely to recognize the judgment of a US court and defendants may have to “relitigate the same issues against French class members in a French court.”

Read the IPE.com article

Blog Widget by LinkWithin

Posted in Class Actions | Tagged Class Certification, France

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2022 Securities Docket.

Powered by WordPress and Hybrid.