The US Supreme Court limited foreign investors’ ability to sue companies based abroad in American courts, throwing out a shareholder lawsuit against National Australia Bank Ltd. The justices unanimously said federal securities laws don’t reach allegations by three Australians who bought shares of Melbourne-based NAB in that country. The Australians argued that US courts could consider the case because it centered on alleged wrongdoing by a former US subsidiary of the bank.
Court curbs overseas reach of US securities laws
Most Popular Articles
Latest Articles
Guild Mortgage CEO on values, culture and M&A priorities
At The Gathering, Terry Schmidt discussed some of what Guild looks for in its M&A and employee recruitment opportunities.
-
US Mortgage Corporation committed to reverse channel, new HECM head says
-
Labor Department announces new rule to shield retirement savings
-
loanDepot CEO talks ‘longer and tougher’ mortgage cycle, NAR settlement and cyberattacks
-
The industry needs to speak out about the consequences of the commission lawsuits: Brokerage leaders
-
HUD announces final rule to protect against flood risk