# kaal:claim:1664809-026

**Claim.** Banks, brokers and other financial intermediaries figure in a large proportion of US securities fraud cases because they often have the deep pockets that plaintiffs' lawyers are looking for.

**Type.** mechanism  **Support.** argued

**Holds when.**

- US securities fraud litigation driven by private plaintiffs

**Source quote.**

> often have the 'deep pockets' that plaintiffs' lawyers are looking

**From.** Richard W. Painter, Wulf A. Kaal, *Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for* (2010), 4.4. European Financial Intermediaries, page 6

**Cite as.** Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809

**Verify.** sha256 of source PDF `2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Painter%20and%20Kaal%20-%202010%20-%20Extraterritorial%20Application%20of%20US%20Securities%20Law%20%E2%80%93%20Will%20the%20US%20Become%20the%20Default%20Jurisdiction%20for.pdf

**Topics.** securities-law, law-and-legal-systems

**Keywords.** financial-intermediaries, deep-pockets, plaintiffs-lawyers, securities-fraud, litigation-targets

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