Case Study: Morrison V. National Australia Bank

Law360, New York (June 29, 2010, 11:07 AM EDT) -- On June 24, 2010, the Supreme Court of the United States held that Section 10(b) of the Securities Exchange Act reached “only transactions in securities listed on domestic exchanges and domestic transactions in other securities.” Morrison v. National Australia Bank Ltd.

In an earlier column from this publication, entitled “Clarifying Jurisdiction For Foreign Claimants” (May 18, 2010), I briefly discussed the issues present in National Australia Bank Ltd., then pending in the United States Supreme Court. The case came to the Supreme Court through the United...
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