kaal:claim:1765901-002

Before Morrison, U.S. courts refused to adopt a bright line rule for the extraterritorial reach of Section 10(b), and the resulting case by case conduct and effects analysis was applied inconsistently.

U.S. courts had avoided a bright line rule for determining which cases can be litigated in U.S. courts and which cannot. As a result, U.S, courts applied the conduct and effects tests inconsistently'.

Kaal and Painter, The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche (2011), p. 2
https://ssrn.com/abstract=1765901 · source PDF

Kaal and Painter, The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1765901

• pre-Morrison case law
• foreign-cubed securities litigation

failuresupport: arguedfailure: inconsistent-conduct-and-effects-applicationfamily: otherlaw-and-legal-systemssecurities-law

• restates kaal:claim:1664809-003 The Second Circuit's conduct and effect test was too unpredictable, and a clear rule keyed to the location of ...

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