U.S. Supreme Court justices appeared hostile on Monday toward so-called "foreign-cubed" securities fraud class actions in which the plaintiffs and stock issuers are foreign and the alleged fraud took place on foreign soil. International companies and foreign governments including France, the United Kingdom and Australia filed briefs in the case arguing against jurisdiction in the U.S. for such suits, expressing concern that U.S. courts will interfere with the policy choices they have made in regulating securities.
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Supreme Court Justices Hostile to 'Foreign-Cubed' Cases
The National Law Journal
March 30, 2010
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