Monday, June 28, 2010

Daily Update from Securities Docket

Daily Update from Securities Docket

Link to Securities Docket

Securities Docket A.M. News Wire for June 28, 2010

Posted: 28 Jun 2010 03:55 AM PDT

July 1 Webcast (9 am) – Morrison v. NAB: The Impact of the U.S. Supreme Court’s Decision on Institutional Investors

Posted: 28 Jun 2010 12:00 AM PDT

On June 24, 2010, the United States Supreme Court affirmed the dismissal of all securities fraud claims brought by aggrieved investors in Morrison v. National Australia Bank, Ltd. (No. 08-1191).

The Court’s decision effectively eliminates the ability of non-US investors who purchase shares of foreign companies on foreign exchanges (so-called “F-cubed” plaintiffs) to bring federal securities fraud claims in the United States for the recovery of their losses caused by corporate fraud.  Foreign companies and their counsel will also likely argue that this decision should be interpreted broadly to limit the ability of US investors to recover under the federal securities laws for any losses suffered in connection with purchases of shares on foreign exchanges.

Both institutional investors and U.S. and foreign corporations will be evaluating the implications of Morrison for some time to come.  We encourage institutions to join the discussion and attend this webcast presentation led by Bernstein Litowitz Berger & Grossmann LLP Partners Beata Gocyk-Farber and Bill Fredericks.

This free webcast is scheduled for Thursday, July 1, 2010 at both 9 a.m. and 2 p.m. Eastern. To attend the 9 a.m. session, please register below. Or, to attend the 2 p.m. session, please visit this link.

July 1 Webcast (2 pm) – Morrison v. NAB: The Impact of the U.S. Supreme Court’s Decision on Institutional Investors

Posted: 28 Jun 2010 12:00 AM PDT

On June 24, 2010, the United States Supreme Court affirmed the dismissal of all securities fraud claims brought by aggrieved investors in Morrison v. National Australia Bank, Ltd. (No. 08-1191).

The Court’s decision effectively eliminates the ability of non-US investors who purchase shares of foreign companies on foreign exchanges (so-called “F-cubed” plaintiffs) to bring federal securities fraud claims in the United States for the recovery of their losses caused by corporate fraud.  Foreign companies and their counsel will also likely argue that this decision should be interpreted broadly to limit the ability of US investors to recover under the federal securities laws for any losses suffered in connection with purchases of shares on foreign exchanges.

Both institutional investors and U.S. and foreign corporations will be evaluating the implications of Morrison for some time to come.  We encourage institutions to join the discussion and attend this webcast presentation led by Bernstein Litowitz Berger & Grossmann LLP Partners Beata Gocyk-Farber and Bill Fredericks.

This free webcast is scheduled for Thursday, July 1, 2010 at both 9 a.m. and 2 p.m. Eastern. To attend the 2 p.m. session, please register below. Or, to attend the 9 a.m. session, please visit this link.

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