International Securities Landscape continues to Evolve in Wake of Morrison Decision
The Morrison v. National Australia Bank case has changed the global landscape of class action recoveries. In June, 2010, the U.S. Supreme Court ruled that securities within the U.S. are no longer within U.S. jurisdiction, effectively barring investors who purchase securities on a foreign exchange from filing U.S. class actions.
An important consequence of the decision was to increase the time and attention investors must allocate to evaluation potential litigation in non-U.S. jurisdiction.