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Browse: Home / 2010 / June / 24 / Supreme Court Upholds Second Circuit Ruling in NAB ‘F-Cubed’ Case

Supreme Court Upholds Second Circuit Ruling in NAB ‘F-Cubed’ Case

By Securities Docket on June 24, 2010, 5:18 pm

The U.S. Supreme Court held today that foreign investors who bought shares of National Australia Bank Ltd on an overseas stock exchange cannot sue in a New York court over large writedowns related to the bank’s onetime U.S. mortgage unit, Reuters reports.

The justices upheld a ruling by the Second Circuit that dismissed the lawsuit on the grounds that American courts did not have jurisdiction.

Reuters: Australian bank can’t be sued in U.S.

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Posted in Class Actions, Top | Tagged Appellate, International

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