The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Mon, 10 Aug 2026 13:46:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.9 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Applying the Supreme Court’s Limits to “Foreign Squared” Litigation – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Applying the Supreme Court’s Limits to “Foreign Squared” Litigation https://corpgov.law.harvard.edu/2010/08/10/applying-the-supreme-courts-limits-to-foreign-squared-litigation/?utm_source=rss&utm_medium=rss&utm_campaign=applying-the-supreme-courts-limits-to-foreign-squared-litigation https://corpgov.law.harvard.edu/2010/08/10/applying-the-supreme-courts-limits-to-foreign-squared-litigation/#comments Tue, 10 Aug 2010 13:25:05 +0000 http://blogs.law.harvard.edu/corpgov/?p=11719?d=20150120100812EST Posted by George T. Conway III, Wachtell, Lipton, Rosen & Katz, on Tuesday, August 10, 2010
Editor's Note:

George Conway is partner in the Litigation Department at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell Lipton firm memorandum by Mr. Conway and Kevin S. Schwartz. Additional posts relating to the decision in Morrison v. National Australia Bank are available here.

In the first significant opinion applying the United States Supreme Court’s decision in Morrison v. National Australia Bank Ltd., No. 08-1191 (U.S. June 24, 2010), the United States District Court for the Southern District of New York ruled yesterday that Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 do not apply to “foreign squared” claims — claims asserted by American investors who have purchased securities of foreign issuers on foreign exchanges. Cornwell v. Credit Suisse Group, No. 08 Civ. 3758 (S.D.N.Y. July 27, 2010).

(more…)

]]> https://corpgov.law.harvard.edu/2010/08/10/applying-the-supreme-courts-limits-to-foreign-squared-litigation/feed/ 1