# Forum shopping `kaal:entity:forum-shopping` **Status.** derived This node is assembled mechanically from the 8 claims that carry the concept tag `forum-shopping`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself. ## Every claim under this term 8 claims across 3 works, 2010 to 2012. **2010** - [1664809-010](https://wulfkaal.github.io/claims/1664809-010) [predictive/argued] -- If section 7216 is enacted and covers section 10(b), the United States could become a magnet for global class actions, and US lawyers would benefit from securities litigation tourism much as UK lawyers have benefited from libel tourism. > a magnet for global class actions'. 24 US lawyers may benefit Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809 - [1664809-012](https://wulfkaal.github.io/claims/1664809-012) [mechanism/argued] -- The lack of securities class actions in European jurisdictions creates a void that increases the incentives for forum shopping by plaintiffs' lawyers. > This void increases incentives for forum shopping by Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809 - [1664809-013](https://wulfkaal.github.io/claims/1664809-013) [predictive/argued] -- If section 7216 becomes law and permits extraterritorial application of US antifraud provisions, it would further incentivize forum shopping by plaintiffs' attorneys. > further incentivize forum shopping by plaintiffs' attorneys. Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809 - [1664809-014](https://wulfkaal.github.io/claims/1664809-014) [mechanism/argued] -- Over time, extraterritorial US securities litigation may drive European jurisdictions to adopt portions of US law in order to discourage forum shopping, a form of legal assimilation. > portions of US law in order to discourage forum shopping. Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809 **2011** - [1765901-008](https://wulfkaal.github.io/claims/1765901-008) [failure/argued] *(failure mode)* -- Permitting Section 10(b) suits over dually listed securities traded outside the United States would undermine Morrison's own policy rationale, because it would interfere with the laws of other countries and turn the United States into a haven for plaintiffs' lawyers suing over foreign exchange purchases. > Furthermore, allowing Section 10(b) suits over dually listed securities traded outside the United States would undermine the strongest policy arguments discussed in the Morrison opinion -that applying Section 10(b) to foreign exchanges would interfere with the laws of other countries 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 - [1765901-013](https://wulfkaal.github.io/claims/1765901-013) [failure/argued] *(failure mode)* -- If the presence of a single U.S. party sufficed to locate a privately negotiated derivative transaction in the United States, U.S. parties could sue in U.S. courts regardless of other factors such as where the counterparties were located. > If the presence of one party alone should suffice, U.S. parties to privately negotiated derivative transactions would be able to sue in U.S. courts regardless of other factors, such as where the counterparties were located, 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 - [1765901-017](https://wulfkaal.github.io/claims/1765901-017) [mechanism/argued] -- Non-U.S. investors have a strong incentive to route foreign trades through U.S. brokers if that preserves a U.S. cause of action, because their home jurisdictions rarely offer the attractive features of the U.S. system such as broad discovery, higher damages, class actions, and no exposure to defendants' costs. > Indeed, the home jurisdiction of non-U.S. clients of U.S. brokers is not likely to provide many of the attractive features of the U.S. legal system, such as unparalleled discovery, a tendency towards higher damages and settle- ment amounts, the availability of securities class actions 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 **2012** - [2029983-005](https://wulfkaal.github.io/claims/2029983-005) [predictive/argued] -- Because Morrison limits U.S. securities law to transactions inside the United States, plaintiffs' attorneys are predicted to look increasingly to European countries and other venues in which to file securities class actions and similar suits. > As a result of the Morrison decision, limiting application of U.S. securities laws to transactions inside the United States, plaintiffs' attorneys may increasingly look to European coun- tries and other venues to file securities class actions and simi- lar suits. Wulf A. Kaal, Richard W. Painter, Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral (2012). SSRN: https://ssrn.com/abstract=2029983 ## Verify Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust. curl -s https://wulfkaal.github.io/entities/forum-shopping.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.