# kaal:claim:1765901-026

**Claim.** Foreign-cubed rulings such as Morrison determined the size of the plaintiff class in private suits, but were irrelevant to the SEC's ability to enforce wherever a U.S. securities transaction is connected to the alleged fraud.

**Type.** condition  **Support.** argued

**Holds when.**

- private class actions compared with SEC enforcement

**Source quote.**

> Morrison and other foreign-cubed cases determined the size of the plaintiff class in private suits, an issue relevant to the compensation of plaintiffs' lawyers, but the rulings in these cases were irrelevant to whether the SEC could pursue enforcement

**From.** Kaal and Painter, *The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche* (2011), III. The Dodd-Frank Act; 2. Was Section 929P(b) Necessary?, page 20

**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

**Topics.** securities-law, compliance

**Keywords.** foreign-cubed, sec-enforcement, class-actions, morrison

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