Published on October 3, 2011 | by LawNews
Prof. Ronald Colombo to Address Extraterritorial Application of US Securities Laws
On October 24, 2011, Professor Ronald J. Colombo will join leading securities lawyers and academics at the New York offices of Dorsey & Whitney LLP to review developments following the Morrison v. NAB case, which limited the extraterritorial application of the anti-fraud provisions of the U.S. federal securities laws to domestic transactions in securities.
The post-Morrison lower court cases have severely limited U.S. anti-fraud liability for purchases and sales made outside the United States despite significant U.S. conduct or contacts with the transaction.
The developing case law has become a substantial impediment to class actions based on violations of Rule 10b-5 and the anti-fraud provisions of the U.S. federal securities laws in international securities transactions.
For more information, visit dorsey.com.