The Shell Court's Exclusion Of Non-U.S. Purchasers

Law360, New York (December 19, 2007, 12:00 AM EST) -- If it is widely followed, the Shell court’s denial of jurisdiction following the filing of a settlement with a foreign court may have far-reaching, positive effects for defendants in numerous securities class actions.

On Nov. 13, the United States District Court for the District of New Jersey excluded all non-U.S. purchasers of Royal Dutch Petroleum Company and the Shell Transport and Trading Company (together Shell) securities from taking part in a class action based on alleged securities fraud.[1]

While the court focused on the minimal contacts...
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