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A foreign company that markets its stock in the U.S. through a company-sponsored program of selling "American Depositary Receipts" or ADRs can be sued in U.S. courts for violating federal securities laws, the 3rd U.S. Circuit Court of Appeals ruled. A unanimous three-judge panel found that a New Jersey court erred in dismissing a class action against Roche, a Swiss company, for lack of personal jurisdiction.
May 31, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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