High Court Seeks SG Input On 'Foreign-Cubed' Cases

Law360, New York (June 1, 2009, 12:00 AM EDT) -- The U.S. Supreme Court has asked the solicitor general to weigh in on a federal appellate court holding that a shareholder lawsuit against an American mortgage service provider and its Australian parent company could not be heard in U.S. courts.

The high court Monday asked the Office of the Solicitor General to offer its views on Morrison v. National Australia Bank Ltd. et al., which centers on whether the anti-fraud provisions of securities laws extend to transnational frauds. The plaintiffs were non-American investors who alleged fraud...
To view the full article, register now.