Cross-border securities class actions raise three main private international law issues (1) which courts have jurisdiction, (2) do the courts have sufficient power to issue effective freezing, disclosure and production orders, and (3) will the courts? rulings have preclusive effect elsewhere?
"F-cubed" claims ? those advanced in state A by purchasers outside state A having purchased securities from non-state A issuers on exchanges outside state A ? are presently pending before the United States Supreme Court and appellate courts in Europe and in Canada. This program addresses up-to-the-minute developments on multi-jurisdictional securities class actions.
Topics include:
- Discussion and analysis of when European, Canadian and U.S. courts assume jurisdiction over foreign claimants regarding purchases on foreign exchanges
- The challenges of effective interlocutory protective and disclosure orders, where a Court does assume jurisdiction over foreign claimants
- The extra-territorial preclusive effect of class certification, settlement approval, and merits decisions obtained in Europe, Canada and the United States
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