United States Second Circuit

Judgment dismissing plaintiffs' claims for securities fraud against defendants is: 1) affirmed where it is clear that the claims are so predominantly foreign, involving German stock trading, statements made in Europe, and multiple European defendants, so as to be impermissibly extraterritorial such that section 10(b) of the Securities Exchange Act cannot therefore apply; but 2) remanded to permit the district court to consider granting leave to plaintiffs to file amended complaints.

Appellate Information

• Decided 08/15/2014
• Published 08/15/2014

Judges

Court

• United States Second Circuit

Counsel