HOME  |  CONTACT US  |  SUBSCRIBE  |  SUPPORT WLF

Case Detail


Morrison v. National Australia Bank, Ltd.
On June 24, 2010, the U.S. Supreme Court issued a unanimous decision rejecting an attempt by foreign shareholders to sue an Australian bank in an American court under federal securities laws. The decision was a victory for the Washington Legal Foundation (WLF), which filed a brief with the Court arguing that the purpose of the Securities Exchange Act of 1934 was to protect American investors and to regulate American securities exchanges, not to create worldwide antifraud rules. The Courtís holding, which should be welcomed by any foreign public company with ties to the United States, will have a significant impact on overseas plaintiffsí abilities to avail themselves of the private right of action afforded by section 10(b) of the Exchange Act.
Case Status:
Victory
More Information and Downloads:
2/26/2010: Download the Brief
7/12/2007: Download the Brief

  • Welcome to the Washington Legal Foundation
  • 2009 Massachusetts Ave., NW
    Washington, DC 20036
  • info@wlf.org  |  ph. 202-588-0302
    ©2017 WLF All Rights Reserved