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Full-Text Articles in Securities Law
A Bright Idea: A Bright-Line Test For Extraterritoriality In F-Cubed Securities Fraud Private Causes Of Action, Jennifer Mitchell Coupland
A Bright Idea: A Bright-Line Test For Extraterritoriality In F-Cubed Securities Fraud Private Causes Of Action, Jennifer Mitchell Coupland
Northwestern Journal of International Law & Business
Whether a foreign or American claimant has a private right of action in so-called ―Foreign-Cubed‖ or ―Foreign-Squared‖ claims under Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Securities and Exchange Commission (SEC) Rule 10b-5 has been the subject of much debate among U.S. courts, Congress, and the international community. Historically, these cases have been heard in the United States if the conduct had a substantial effect in the United States or on U.S. citizens (the effects test), or if the fraudulent or wrongful conduct occurred in the United States (the conduct test). However, in June 2010, …
Continental Grain (Australia) Pty. Ltd. V.Pacific Oilseeds, Inc.: An Unjustifiable Expansion Of Subject Matter Jurisdiction In A Transnational Securities Fraud Case, Joseph A. Marovitch
Continental Grain (Australia) Pty. Ltd. V.Pacific Oilseeds, Inc.: An Unjustifiable Expansion Of Subject Matter Jurisdiction In A Transnational Securities Fraud Case, Joseph A. Marovitch
Northwestern Journal of International Law & Business
This note will suggest that the holding in Continental Grain repre- sents an unjustifiably expansive application of the conduct test. Recog- nizing the Second Circuit's expertise in the securities law area, this note will critically examine the case of that circuit, concluding that the Sec- ond Circuit would not have found jurisdiction under the conduct test on the facts of Continental Grain.' Next, SEC v. Kasser,8 a Third Cir- cuit case relied upon by the court in Continental Grain, will be criticized as an unwarranted expansion of the conduct test. Unwarranted or not, Kasser also could have been distinguished on …