International
Jul. 8, 2010
Supreme Court Attacks Plaintiffs' Bar
The Roberts Court has signaled that the open door is rapidly closing and standing will be cut off for certain types of foreign lawsuits, Mark Neubauer of Steptoe & Johnson explains.
Warning that the U.S. courts will not be the "Shangri-La of class action litigation," the Supreme Court sent a strong message to plaintiffs' lawyers in Morrison v. National Australia Bank Ltd., 2010 DJDAR 9676 at the end of its 2009-2010 session last week.
While Morrison on its face merely restricted standing of foreign securities investors to pursue claims under the Federal Securities Laws, t...
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