kaal:claim:1765901-020
If Section 10(b) were held to reach swap agreements based on stocks traded outside the United States, plaintiffs' attorneys would use that holding as precedent to limit Morrison broadly, and other courts might create a general exception for U.S. derivative contracts referencing non-U.S. securities.
Source quote, verbatim
If Section 10(b) is held to apply to cases involving swap agreements based on stocks traded outside the U.S., plaintiffs' attorneys would be encouraged to use such a holding in Porsche as precedent to limit the application of Morrison in a wide range of contexts.
From
Kaal and Painter, The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche (2011), II. Open Questions After Morrison; 2. Does Section 10(b) Apply to Derivative Transactions in the U.S. that Are Based on Foreign Traded Stocks?, p. 11
https://ssrn.com/abstract=1765901 · source PDF
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
Holds when
Classification
predictivesupport: arguedfailure: derivatives-exception-to-morrisonfamily: otherlaw-and-legal-systemssecurities-law
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