Civil Procedure › Business Torts › International Law & Trade

Second Highest Penalty in FCPA History Comes with a Caution from the Bench about the Limits of the Act’s Jurisdiction

In Brief - The Foreign Corrupt Practices Act covers a nearly boundless range of business conduct by issuers and their agents in an ever more global world. Yet the contrast in sentences handed down in two recent FCPA...more

Patent Watch: Forrester Envtl. Servs., Inc. v. Wheelabrator Techs., Inc.

[P]ermitting state courts to adjudicate disparagement cases (involving alleged false statements about U.S. patent rights) could result in inconsistent judgments between state and federal courts [but] this possibility of...more

Corporate and Financial Weekly Digest - May 3, 2013

In this issue: - SEC Issues Proposal Regarding Cross-Border Security-Based Swap Activities - CFTC Staff Issues No-Action Letters - Delaware Court Dismisses Securities Fraud Action Against Power Plant...more

Orrick's Financial Industry Week in Review - April 22, 2013

Second Circuit Rejects Edge Act Jurisdiction in AIG RMBS Case - On April 19, the Second Circuit ruled that a lawsuit brought by American International Group (AIG) against several Bank of America entities involving...more

Court Finds Section 15(a) of the Exchange Act Only Applicable in Domestic Transactions

The US District Court for the Northern District of Illinois recently granted defendants’ motion to dismiss one count of a Securities and Exchange Commission complaint, finding that the registration requirement under Section...more

Kiobel v. Royal Dutch Ptroleum

U.S. Supreme Court Opinion Kiobel

In an opinion issued on April 7, 2013, the U.S. Supreme Court has ruled against a group of Nigerians living in the United States who sought to hold oil companies accountable for alleged human rights violations in Nigeria...more

District Court Grants J.P. Morgan’s Motion for Summary Judgment Against Dexia in RMBS Suit

On April 2, Judge Jed Rakoff of the United States District Court for the Southern District of New York largely granted J.P. Morgan’s motion for summary judgment in RMBS litigation brought against it by Dexia, a Belgian bank,...more

There is a Border in Cross-Border Proceedings - NASDAQ Purchasers Excluded from Ontario Class in IMAX

Those who have been following the progress of the securities class action saga of Silver v. IMAX will be interested to note that another decision in the long-running case has been released. On March 19, Justice van Rensburg...more

Directors Owe No Duty To Foreign Residents

Originally Published in Legal Alert, Vol. 31, No. 5. Directors of Canadian companies with operations outside of Canada can take comfort in the Ontario Court of Appeal’s recent decision in Piedra v. Copper Mesa Mining...more

Canadian Government Announces Proposed Amendments to Anticorruption Law

Amendments aim to improve enforcement of Canadian foreign corruption law by expanding jurisdiction, creating a books and records offense, eliminating the facilitation payments exception, redefining "business" and enforcement...more

SBA Rules Changes – Definition of a Small Business

In the quest to compete and survive, small businesses should embrace all opportunities for revenue growth available to them. One of the largest potential customers in the world is the US Government. Small businesses have a...more

Canada, "Getting the Deal Through - Enforcement of Foreign Judgments 2013"- October 2012

Peter Cavanagh and Chloe Snider have written a chapter describing the applicable law in Canada for the publication "Getting the Deal Through - Enforcement of Foreign Judgments 2013" Getting the Deal Through is a database...more

Baker & McKenzie: Best practice in market disclosure following Fortescue

Continuous disclosure in the spotlight Continuous disclosure is again in the spotlight with the High Court of Australia handing down its decision on Tuesday in the long running dispute between the Australian Securities...more

Document Review in Litigations and Investigations

What is written is fundamental to the Phoenix business laws, so obviously document review is crucial in the litigation process. It is a key to the discovery process. According to KPMG, first level document review can be...more

MBL-AKUSTIKGERÄTE GMBH & CO., KG et al. v. MBL OF AMERICA, INC.

Reply Brief in Support of Motion to Dismiss for Lack of Jurisdiction

MBL of America's reply brief in support of its motion to dismiss for lack of personal jurisdiction or, in the alternative, dismiss for improper venue, emphasizes that jurisdiction cannot be predicated on the fact that...more

Private Placement Transaction Involving Foreign Company Was Not Within the Extraterritorial Reach of US Securities Law

The US District Court for the Southern District of New York last week denied securities fraud claims against a Chinese law firm, Deheng Law Firm (Deheng), and a partner of that firm because of a lack of jurisdiction over the...more

Seventh Circuit Applies Non-U.S. Law, Finds Not Conflict, And Awards Full Damages on Breach of Fiduciary Duty Claim; Non-U.S. Law...

In re Griffin Trading Co. (Appeal of Leroy G. Inskeep), No. 10-3607 (7th Cir. 2012), reviewed a District Court application of Illinois law in a breach of fiduciary duty claim in which those in control of Griffin Trading were...more

China-based Company’s Victory in Securities Fraud Case Reversed on Appeal

On August 1, 2012, the Court of Appeals for the Second Circuit revived a putative securities fraud class action lawsuit against China North East Petroleum Holdings Ltd. (“NEP”), a China-based crude oil production company...more

Class Action Law in Ontario Canada: Supreme Court of Canada upholds restrictive interpretation of limitation period for secondary...

On August 2, 2012, the Supreme Court of Canada, denied leave to appeal the Court of Appeal decision in Sharma v. Timminco. In so doing, the Supreme Court upheld the appeal court’s restrictive interpretation of the three year...more

DISPUTE RESOLUTION: Securities Litigation: Securities Litigation and the Energy Sector by Paul R. Bessette, Michael J. Biles and...

Throughout the past ten years securities litigation has made front-page news in the energy sector. Federal securities class action filings against energy companies specifically have increased in the past three years. While...more

Orrick's Financial Industry Week In Review - July 30, 2012

In This Issue: - Financial Industry Developments · CFTC Final Regulations on Phase in Compliance with Clearing Requirements and Proposed Rule on Clearing Determination · OCC Update to Bank Accounting Advisory...more

New York’s Highest Court Dismisses Complaint By French Asset Management Firm Alleging Breach of Fiduciary Duty and Unlawful...

Oddo Asset Mgt. v. Barclays Bank PLC, et al., No. 126 (NY 2012), involves the application of state common law principles to an international transaction gone bad. Two investment vehicles, SIV-Lites and Oddo Asset Management,...more

Vivendi Securities Case Tried, and Lost.

We have posted before on the class action securities case against Vivendi. The recent trial involving the case is a lesson for international litigation practice. Since our last posting, the defendants in the case sought to...more

Corporate and Financial Weekly Digest - June 29, 2012

In this issue: - Congress Pressures SEC on Two Fronts - New General Solicitation and Advertising Rules To Be Delayed - Proposed Rule Change Relating to Distribution of Auction Messages - SEC Adopts New...more

MBL-AKUSTIKGERÄTE GMBH & CO., KG et al. v. MBL OF AMERICA, INC.

Defendants' Motion to Dismiss for Lack of Personal Jurisdiction

MBL of America's motion to dismiss for lack of personal jurisdiction seeks to dismiss the German plaintiff's attempt to manufacture jurisdiction in New York against Arizona and California defendants, where no sales are...more