Law360, New York (February 18, 2016, 10:17 AM EST) -- More than five years ago, the U.S. Supreme Court limited the scope of United States securities laws in Morrison v. National Australia Bank Ltd. The decision effectively barred plaintiffs from asserting claims in the United States over foreign companies traded on non-U.S. exchanges. As a result, Morrison drastically reduced investor protections for nearly all securities purchased on a foreign exchange.
Although momentous, Morrison did not immediately trigger a sea change in securities litigation. Even in 2015, the majority of worldwide securities actions were still filed within U.S. jurisdictions. Yet due to Morrison’s preclusive effect, there are increasingly more instances where U.S....
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