United States Second Circuit
Morrison v. Nat'l Australia Bank, Ltd., 070583
In a securities matter involving defendant-foreign bank, dismissal of claims is affirmed where court did not have subject matter jurisdiction based on the fact that: 1) the fraudulent statements at issue emanated from defendant's corporate headquarters in Australia; 2) the complete lack of any effect on America or Americans; and 3) the lengthy chain of causation between defendant's acquired lending company's actions and the statements that reached investors.
Appellate Information
- Decided 10/23/2008
- Published 10/23/2008
Judges
Court
- United States Second Circuit