Volume 7 (2010) / Issue 3
Wulf A. Kaal, Richard W. Painter, 'Extraterritorial Application of US Securities Law: Will the US Become the Default Jurisdiction for European Securities Litigation?' (2010) 7 European Company Law, Issue 3, pp. 90–97
Pending case law by the US Supreme Court (Morrisson v. National Australia Bank) and draft legislation in Congress threaten to expand the jurisdiction of US courts to cases where foreign, i.e. non US, plaintiffs sue foreign defendants over securities purchased in foreign securities markets. This article describes the many aspects of this threat, in particular for European investors, brokers, banks and ... lawyers.
All rights reserved