kaal:claim:1765901-031

Extending private rights of action extraterritorially would expose non-U.S. companies to Section 10(b) liability based on any U.S. conduct, including conduct inside U.S. business operations alleged to have produced securities fraud abroad, and much of global securities litigation would migrate to the United States.

Non-U.S. companies could be subject to liability under Section 10(b) if they have any conduct in the U.S. - for example conduct inside U.S. business operations — that could be alleged to have resulted in securities fraud outside the U.S.

Kaal and Painter, The Aftermath of Morrison v. National Australia Bank and Elliott Associates v. Porsche (2011), III. The Dodd-Frank Act; 3. The SEC Study of Private Rights of Action, Section 929Y, p. 21
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

• if Congress legislatively overrules Morrison for private plaintiffs

predictivesupport: arguedlaw-and-legal-systems

• restates kaal:claim:1664809-004 Allowing foreign plaintiffs to sue foreign defendants in US courts over securities purchased and sold in forei...

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