News 13 May. 2014

Litigation Client Alert Discusses Recent Second Circuit Decision on Morrison

Partner Jonathan Walsh and associate Kevin Meehan have published a client alert that discusses the recent Second Circuit decision in City of Pontiac Policeman's andFireman's Retirement Sys. v. UBS AG. This decision clarifies the territorial reach of U.S. securities laws by holding that transactions on foreign exchanges are not domestic transactions under the Supreme Court's seminal ruling in Morrison v. National Australia Bank. The client alert outlining the decision can be found here.