Professor Ronald J. Colombo is a co-signer to Brief of Amicus Curiae Law Professors and Former Commissioner of the United States Securities and Exchange Commission in Support of Defendants-Appellants, submitted in Universities Superannuation Scheme Ltd., et al. v. Petroleo Brasileiro S.A. et al., No. 16-1914-cv (2d Cir. 2016).
The amici argue that, as per the Supreme Court’s decision in Morrison v. National Australia Bank, 561 U.S. 247 (2010), a court cannot appropriately certify a class under FRCP Rule 23 for a case brought under the federal securities laws when there is no way of readily determining that the transactions in question took place inside the United States.