X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.


http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=48585

Judge Scheindlin

PLAINTIFF SUED Bank Leumi Le Israel and two of its employees, seeking damages for alleged violations of U.S. securities laws and for injuries at common law. Plaintiff alleged that the bank, a Swiss banking corporation, is not registered or authorized to do business in the U.S. and that an individual defendant, after being hired by the bank as an account manager, engaged in fraudulent practices. Defendants argued that plaintiff executed at least eight agreements containing forum selection clauses explicitly providing that Swiss law “exclusively governed” her relationship with the bank and exclusive jurisdiction of lawsuits and any other legal proceedings was in Switzerland. The court dismissed the claims under the Securities Exchange Act of 1934 with prejudice, noting that plaintiff voluntarily entered into the agreements and is bound by their terms. The court added that plaintiff’s discovery of the alleged fraud triggered the running of the statute of limitations, which expired well before she filed her complaint.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 3 articles* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.