Plaintiffs Bar Refuses To Admit Defeat Post-Morrison

Law360, New York (September 20, 2010, 2:31 PM EDT) -- The U.S. Supreme Court's decision in Morrison v. National Australia Bank may have shut the door on a host of shareholder class actions against foreign defendants, but some plaintiffs attorneys are quickly devising legal strategies they say will preserve their clients' claims.

In a June ruling authored by Justice Antonin Scalia, the Supreme Court majority found that the reach of Section 10(b) of the Securities and Exchange Act of 1934 extends only to “the purchase or sale of a security listed on an American stock exchange,...
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