International Law & Trade | JD Supra Legal News, Updates, Analysis, & Information

Orrick's Financial Industry Week In Review - May 21, 2012

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

In This Issue: - Financial Industry Developments · FHFA Releases Draft Strategic Plan · Large Bank Stress Testing Guidance Finalized · Stress Testing for Community Banks · CFTC Rule on Swap...more

District Court Rejects Argument that Investment Advisers Act Cannot Be Applied Extraterritorially

by Katten Muchin Rosenman LLP on 5/21/2012

The Securities and Exchange Commission brought a complaint against the former Chief Financial Officer of a now defunct investment adviser seeking enforcement of the Investment Advisers Act of 1940 (IAA). The U.S. District...more

SEC Staff Issues Report on the Cross-Border Scope of Private Rights of Action for Securities Fraud

by Sheppard Mullin Richter & Hampton LLP on 5/10/2012

The staff of the Securities and Exchange Commission (“SEC”) recently released a study on the cross-border scope of the private right of action under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”),...more

Microsoft Corp. v. Vadem, Ltd., et al., C.A. No. 6940-VCP (Del. Ch. Apr. 27, 2012) (Parsons, V.C.) - April 27, 2012

by Potter Anderson & Corroon LLP on 5/9/2012

In this memorandum opinion, the Court of Chancery reinforced the internal affairs doctrine while dismissing a complaint brought by Microsoft Corporation in connection with the restructuring of Vadem, Ltd., a computer...more

U.S. Government Intervenes In Action Alleging Evasion Of Import Duties by Rebecca Woodings

by King & Spalding on 5/7/2012

The U.S. Department of Justice intervened in a lawsuit alleging falsification of country-of-origin documents to U.S. Customs and Border Protection. At issue is whether a Japanese company, Toyo Ink International Corp., two...more

ITC Ruling May Presage Return of Sanctions Proceedings

by Duane Morris LLP on 5/2/2012

U.S. International Trade Commission (ITC) Administrative Law Judge Thomas B. Pender (ALJ) recently imposed sanctions on Apple due to the intentional misrepresentations of fact in the opening statement and briefing. This sua...more

I’m a fund director, get me out of here!

by Harney Westwood & Riegels on 4/27/2012

Last year’s judgement of the Grand Court of the Cayman Islands in Weaveing Macro Fixed Income Fund Limited (In Liquidation) v Peterson and Ekstrom (“Weavering”) spawned numerous commentaries and advisories which had Fund...more

Absolute Activist Value Master Fund Ltd. v. Ficeto

by McKenna Long & Aldridge LLP on 4/27/2012

In addressing an issue left open by the Supreme Court in Morrison v. National Australia Bank Ltd.2, the Second Circuit held in Absolute Activist Value Master Fund Ltd. v. Ficeto, that to sufficiently allege the existence of a...more

Second Circuit Clarifies Elements of a Domestic Securities Transaction Under Morrison v. National Australia Bank

by Bracewell & Giuliani LLP on 3/30/2012

On March 1, 2012, the United States Court of Appeals for the Second Circuit held that a foreign plaintiff may assert a fraud claim under the federal securities laws based on its purchases of securities issued by U.S....more

Supreme Court’s Credit Suisse Securities Decision Shields Corporate Insiders from Endless Liability for Short-Swing Profits Under...

by Ropes & Gray LLP on 3/28/2012

Corporate officers and directors received some assurance from the Supreme Court on Monday that they will not be required to defend against decades-old claims to disgorge short-swing profits. In Credit Suisse Securities LLC v....more

Second Circuit Clarifies Morrison’s Holding Concerning What Is a U.S. Transaction, Overturning a District Court’s Approach...

by Cadwalader, Wickersham & Taft LLP on 3/26/2012

Absolute Activist Value Master Fund Ltd. v. Ficeto, et al., Dkt. No. 11-0221-cv (2d Cir. 2012), presents one of the few Court of Appeals’ analyzes of the reach of the Supreme Court’s extraterritorial decision in Morrison v....more

The Netherlands as an Attractive Alternative for Settling International Mass Claims

by Quinn Emanuel Urquhart & Sullivan, LLP on 3/22/2012

Since the U.S. Supreme Court’s decision blocking actions by non-U.S. investors related to securities in companies not listed in the U.S. and traded outside the U.S. (the “foreign-cubed-cases”), Morrison v. Natinonal Australia...more

Business Litigation Report -- March 2012

by Quinn Emanuel Urquhart & Sullivan, LLP on 3/22/2012

In This Issue: Firm Awards: Legal Business Names Quinn Emanuel "US Law Firm of the Year" QE's Appellate and Antitrust Practices Ranked Top in the Nation Firm News: Star Trial Lawyer William Burck...more

Absolute Activist Value Master Fund Ltd. v. Ficeto: Second Circuit Decision Further Defines the Extraterritorial Limits of US...

by White & Case LLP on 3/21/2012

In Absolute Activist Value Master Fund Ltd. v. Ficeto, the Second Circuit clarified the extraterritorial reach of Section 10(b) of the Securities Exchange Act of 1934. The Court held that transactions involving securities...more

$200M Suit by Hedge Funds Dismissed as Beyond the Reach of Section 10(b); Second Circuit Defines What Deals Are “Domestic...

by Foley Hoag LLP on 3/19/2012

Earlier this month, in Absolute Activist Value Master Fund Ltd. et al. v. Ficeto et al., 11-cv-0221 (2d Cir. Mar. 1, 2012), the Court of Appeals for the Second Circuit affirmed the dismissal of a $200M fraud case brought by...more

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International Law & Trade – May 23, 2012

Narrowed by: Business Torts