# kaal:claim:1765901-012

**Claim.** Morrison provides no clear parameters for classifying privately negotiated transactions as domestic or foreign, because the case involved publicly traded securities and never reached the question.

**Type.** failure  **Support.** argued

**Holds when.**

- privately negotiated securities and derivative transactions

**Source quote.**

> There are currently no clear parameters for defining the location of privately negotiated transactions as domestic or foreign transactions under Morrison. Morrison did not explore this issue because that case involved securities that were publicly traded — in Australia.

**From.** Kaal and Painter, *The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche* (2011), II. Open Questions After Morrison; 3. When Does a Private Transaction Take Place in the U.S.?, page 13

**Cite as.** 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

**Verify.** sha256 of source PDF `7b08b8a15f7d72b4eeed41be2d17c20428cb4727269077a6575c5d22e31ecdc5` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Painter%20-%202011%20-%20The%20Aftermath%20of%20Morrison%20v.%20National%20Australia%20Bank%20and%20Elliott%20Associates%20v.%20Porsche.pdf

**Failure mode.** private-transaction-location-gap  (family: other)

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

**Keywords.** transaction-location, private-transactions, legal-uncertainty, morrison

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