How the Morrison Case has Changed the Landscape for Global Group Action Recoveries

By Allison Gosman, Senior Marketing Specialist, Financial Recovery Technologies The Morrison v. National Australia Bank case changed the global landscape for class action recoveries. In June, 2010, the U.S. Supreme Court ruled that securities traded outside the U.S. are no longer within U.S. jurisdiction, effectively barring investors who purchased securities on a foreign exchange from filing U.S. class actions. As Continue Reading

Morrison v The National Australia Bank still impacts foreign law claims

Recently, federal courts addressed an arising question in the securities litigation suit, Kaynes v BP, PLC, dismissing the law suits brought by Canadian investors who purchased BP’s ordinary shares and ADRs on the NYSE. First, the Canadian shareholders filed litigation in Canada under the Ontario Securities Act in Canada. The court rejected the claims and seemed to endorse the U.S. Continue Reading