United States Third Circuit

A Swiss corporation's sponsoring of American Depositary Receipts (ADRs) which are actively traded by American investors, and its misrepresentations to ADR holders, justify personal jurisdiction in district court; reliance was sufficiently pled in securities fraud claims to overcome dismissal.

Appellate Information

• Decided 05/30/2002
• Published 05/30/2002

Judges

• Before: BECKER, Chief Judge, McKEE and RENDELL, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Jeffrey H. Squire,Ira M. Press (Argued), Mark A. Strauss, Lewis S. Sandler, Kirby, McInerney & Squire LLP, New York, NY, Michael M. Rosenbaum, Budd, Larner, Gross & Rosenbaum, Short Hills, NJ, Counsel for Plaintiff-Appellant.


• For Appellees:
  
• Lawrence J. Portnoy (Argued), Gwenn M. Kalow, Manisha M. Sheth, Davis, Polk & Wardwell, New York, NY, Michael R. Griffinger, Thomas Valen, Gibbons, Del Deo, Dolan, Griffinger & Vecchione, Newark, NJ, Counsel for Defendant-Appellee.