Judge Dismisses Securities Claims Pursuant To High Court’s Ruling In Morrison
NEW YORK – Dismissal of federal securities law claims brought by foreign investors that purchased their shares on a foreign exchange is proper under the U.S. Supreme Court’s ruling in Morrison v. National Australia Bank, Ltd. because the shares were not purchased on an American stock exchange, a federal judge in New York ruled Feb. 1 (In re Vivendi Universal S.A. Securities Litigation, No. 02-5571, S.D. N.Y.).
View full post on LexisNexis® Mealey’s™ Daily Legal News
Claims, Courts, dismisses, high, Judge, Morrison, Pursuant, Ruling, Securities