Morrison end run hits brick wall in Toyota case

Rather than assert any of the Morrison work-arounds that other plaintiffs lawyers have already tried and failed to sell to federal judges—such as arguing that a company’s foreign-traded shares are “listed” if its American Depository Shares trade on a U.S. exchange—the lawyers suing Toyota looked across the Pacific Ocean for a new way to thwart Morrison. Unfortunately for them, they fared no better than everyone else who’s tried to find any vulnerability in the Supreme Court’s ruling.

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