Note: This article has been corrected to clarify the Supreme Court’s holding in Morrison. Additionally, the client in the Lehman Brothers action was a British pension plan based in Northern Ireland.
What the U.S. Supreme Court took away, Spector Roseman Kodroff & Willis gave back. Or, more precisely, despite a 2010 ruling in Morrison v. National Australia Bank that bars U.S. and overseas investors that purchase shares abroad from bringing federal securities actions against foreign defendants in U.S. courts, the firm teamed with top-flight co-counsel to find an alternative venue for such lawsuits.
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