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Cite as: Cohen v. Viray, 08-3860-cv, NYLJ 1202472745889, at *1 (2d Cir, Decided September 30, 2010)Before: Hall, Livingston, and Chin,* C.JJ.p class="decid
A group of investors are hoping to persuade a Delaware Chancery Court judge to block BankAtlantic's proposed sale of $2.1 billion in loans and $3.3 billion in deposits to BB&T. The trial promises to be a big test for BankAtlantic counsel Eugene Stearns of Stearns Weaver Miller Weissler Alhadeff & Sitterson, who's also defending the bank against newly-filed SEC fraud charges.
Supreme Court Justices Hostile to 'Foreign-Cubed' Cases
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.Justices hostile to foreign-cubed cases
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.Solicitor General, SEC Urge Supreme Court Not to Take 'F-Cubed' Case
In June, when the U.S. Supreme Court asked Solicitor General Elena Kagan to weigh in on the 2nd Circuit's precedent-setting "F-cubed" ruling in Morrison v. National Australia Bank, it looked like the high court was getting securities litigation fever. Just days before, it had decided to take on Merck v. Reynolds, which raised the issue of how the statute of limitations should apply in shareholder cases. But in a brief filed Tuesday, the SG seems to be trying to cool the Court's ardor.Cite as: Cohen v. Viray, 08-3860-cv, NYLJ 1202472745889, at *1 (2d Cir, Decided September 30, 2010)Before: Hall, Livingston, and Chin,* C.JJ.p class="decid
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