Bringing 'Foreign-Cubed' Actions in American Courts

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The 2nd U.S. Circuit Court of Appeals, in a recent case of first impression, considered whether a securities fraud complaint brought by foreign plaintiffs against foreign issuers based on foreign stock purchases -- a set of circumstances sometimes dubbed a "foreign-cubed securities case" -- could be heard by a U.S. federal court. The answer provided by the 2nd Circuit: under the right circumstances, yes. Chadbourne & Parke's Douglas R. Jensen analyzes the ruling.

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