US No Place For Foreign-Cubed Cases: Chamber

Law360, New York (February 26, 2010, 5:26 PM EST) -- In a brief filed with the U.S. Supreme Court Friday, the Chamber of Commerce urged the high court to reject a bid to open U.S. courts to securities class actions brought by foreign plaintiffs against foreign defendants.

In November the high court agreed to hear Morrison et al. v. National Australia Bank et al., examining the question of whether anti-fraud provisions of U.S. securities laws should extend to transnational securities issues, breaking with the opinion of the solicitor general that the Supreme Court should skip the...
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