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Browse: Home / Morrison

Morrison

The Impact of the Morrison Decision After Ten Years | The D&O Diary

By Securities Docket on September 30, 2020, 8:18 am

The Morrison decision overturned decades of case law in which the lower courts struggled to apply the then-applicable “conduct and effects” test to determine whether or not the U.S. securities were applicable in any given circumstance. In a decision written by the late Justice Antonin Scalia, the Court said in Morrison that the U.S. securities […]

Posted in Global, Top | Tagged Morrison

Under Morrison, U.S. Securities Laws Don’t Apply to Toshiba’s Unsponsored ADRs Purchased OTC in the U.S. – The D&O Diary

By Securities Docket on May 25, 2016, 7:40 am

These issues were presented in the class action lawsuit filed in June 2015 in the Central District of California against Toshiba Corporation. The consolidated lawsuit purported to be filed on behalf of a class of investors who purchased unsponsored Toshiba American Depositary Shares (ADS) over-the-counter in the U.S., as well as on behalf of investors who purchased […]

Posted in Class Actions, Top | Tagged Morrison

SEC to Answer ‘Morrison’ Challenge by 5-31 | Bloomberg BNA

By Securities Docket on May 5, 2016, 2:00 pm

The U.S. Court of Appeals for the Second Circuit misapplied the standard set out in Morrison v. Nat’l Australia Bank Ltd., 561 U.S. 247 (2010), when it granted the SEC summary judgment in a civil enforcement action, petitioners Alberto Vilar and Gary Tanaka argued in a March 29 certiorari petition. via SEC to Answer ‘Morrison’ […]

Posted in SEC, Top | Tagged Morrison

Tesco moves to toss U.S. securities case – but real action is in U.K. — On the Case

By Securities Docket on August 20, 2015, 6:20 pm

Wachtell fleshed out its mention of British shareholder litigation against the company with a bunch of exhibits detailing how three prominent members of the U.S. shareholder bar – Scott & Scott, Grant & Eisenhofer and Kessler Topaz Meltzer & Check – are devoting their time and effort to litigating abroad on behalf of Tesco shareholders […]

Posted in Class Actions, Global | Tagged Morrison, UK

U.S. criminal laws don’t apply to conduct abroad: 2nd Circuit — On the Case

By Securities Docket on August 31, 2013, 10:21 am

Attention, American fraudsters! If you restrict your criminal activities to conduct outside of the United States, you’re safe from prosecution under U.S. laws. That’s not exactly how a three-judge panel of the 2nd Circuit Court of Appeals worded its decision Friday in U.S. v. Alberto Vilar and Gary Tanaka, but it’s the effective result of […]

Posted in Criminal, Top | Tagged Jurisdiction, Morrison

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 number of suits filed against non-U.S. companies has unexpectedly increased after the Supreme Court’s 2010 opinion in Morrison.

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

A Way Around Morrison?: Dismissal Denied in Short-Sellers' State Court Suit Against Porsche -- The D & O Diary

A Way Around Morrison?: Dismissal Denied in Short-Sellers’ State Court Suit Against Porsche — The D & O Diary

By Securities Docket on August 10, 2012, 3:35 pm

New York state court decision may show a way around Morrison’s constraints.

Posted in Class Actions, Global | Tagged Morrison, Web Watch

Pursuing Foreign Fraud Claims on American Soil

Pursuing Foreign Fraud Claims on American Soil

By Securities Docket on April 18, 2012, 4:17 pm

Recommendations to tweak Morrison rule may fall on deaf ears.

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

SECs Post-Morrison Study Draws Strong Disappointment from Comm. Aguilar

SECs Post-Morrison Study Draws Strong Disappointment from Comm. Aguilar

By Securities Docket on April 12, 2012, 4:20 pm

SEC Commissioner Aguilar voices “astonishment” at SEC study on Morrison issues.

Posted in Class Actions, Global, Top | Tagged Morrison, Studies, US Congress

The Second Circuit Takes a Whack at Morrison's Second Prong : The D&O Diary

The Second Circuit Takes a Whack at Morrison’s Second Prong : The D&O Diary

By Securities Docket on March 5, 2012, 3:39 pm

Opinion analyzes allegations that would satisfy Morrison test.

Posted in Class Actions | Tagged Morrison, Web Watch

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