Morrison v. National Australia Bank

Transcript Oral Argument March 29, 2010


This is the transcript of oral argument heard by the Supreme Court in Morrison v. National Bank of Australia on March 29, 2010. The case centers on so called “F-Cubed” securities class actions.

The issue to be determined by the Court in Morrison v. National Australia Bank is whether F-cubed cases may be brought in the U.S. In Morrison, foreign investors accused National Australia Bank of perpetrating a fraud involving a Florida subsidiary bank. The plaintiffs allege that the Florida connection gives the case enough of a U.S. jurisdictional hook to justify its being brought here. The bank, however, insists that the alleged activity took place in Australia and that the U.S. courts should not have jurisdiction.

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