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Browse: Home / 2012 / November / 12 / NERA Releases Study of Securities Suits against Non-U.S. Companies — The D & O Diary

NERA Releases Study of Securities Suits against Non-U.S. Companies — The D & O Diary

By Securities Docket on November 12, 2012, 12:25 pm

The report notes the irony that the increase in the number of suits filed against non-U.S. companies has occurred after the U.S. Supreme Court’s 2010 opinion in the Morrison case. It has been widely believed that the transaction-based test enunciated in Morrison would reduce the number of securities suits involving non-U.S. companies….

Even though Morrison has not yet had a perceptible impact on the number of filings involving non-U.S. companies, Morrison has had an impact. As claimant classes are defined to omit claims on behalf of shareholders who purchased shares on non-U.S. exchanges, the shareholder classes on whose behalf the securities claims are asserted have become narrower. As the report states, “Morrison’s effect is more likely to narrow the scope of a claim against a non-U.S. company than to eliminate the claim entirely.”

via NERA Releases Study of Securities Suits against Non-U.S. Companies — The D & O Diary.

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Posted in Class Actions, Industry | Tagged Morrison, Reports, Web Watch

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