Morrison Decision Looks Beyond Securities Borders

Law360, New York (October 22, 2010, 6:29 PM EDT) -- In the wake of the U.S. Supreme Court’s bar on “foreign-cubed” securities class actions, two recent lower court rulings preventing foreign plaintiffs from pursuing a Racketeer Influenced and Corrupt Organizations Act case suggest the Morrison decision will have an impact beyond the securities realm.

In June, Justice Antonin Scalia delivered the high court's unified opinion in Morrison v. National Australia Bank Ltd., which found that foreign plaintiffs are barred from suing foreign issuers of securities for violations of U.S. securities laws based on transactions in foreign...
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