High court weighs fraud lawsuit vs. Aussie bank
Lawyer Blogs
The Supreme Court indicated Monday it could prohibit foreign investors from using U.S. securities law and American courts to sue a foreign bank for fraud.
The court heard argument in a challenge from Australian investors who want to sue the Melbourne-based National Australia Bank for securities fraud in U.S. federal court. The investors say they should have access to American courts because the claim of fraud relies on the actions of a bank-owned mortgage servicing company in Florida.
But none of the justices appeared to accept the investors' argument.
"Australian plaintiffs, Australian defendants, shares purchased in Australia. It has Australia written all over it," Justice Ruth Bader Ginsburg said. "Isn't the most appropriate choice the law of Australia rather than the law of United States?"
The court could use the case to clarify whether and when disputes over international dealings can be resolved in American courts, which often are more generous to plaintiffs than foreign courts.
Business interests and the governments of Australia, France and Great Britain are urging the court rule in favor of the bank.
Related listings
-
Lawyers await hearing on combining Toyota lawsuits
Lawyer Blogs 03/26/2010As lawsuits over Toyota acceleration problems multiply nationwide, more than 150 attorneys gathered Wednesday to sharpen their legal skills on the eve of a major federal court hearing on whether dozens of cases will be consolidated before a single ju...
-
Calif. voters could legalize pot in Nov. election
Lawyer Blogs 03/25/2010When California voters head to the polls in November, they will decide whether the state will make history again — this time by legalizing the recreational use of marijuana for adults.The state was the first to legalize medicinal marijuana use, with ...
-
Galleon founder wins stay of wiretaps in civil case
Lawyer Blogs 03/24/2010Galleon hedge fund founder Raj Rajaratnam, accused of insider trading along with several associates, won a suspension of a court order to hand over wiretap evidence to U.S. market regulators, pending appeal.The U.S. Court of Appeals for the 2nd Circu...
Illinois Work Injury Lawyers – Krol, Bongiorno & Given, LTD.
Accidents in the workplace are often caused by unsafe work conditions arising from ignoring safety rules, overlooking maintenance or other negligence of those in management. While we are one of the largest firms in Illinois dedicated solely to the representation of injured workers, we pride ourselves on the personal, one-on-one approach we deliver to each client.
Work accidents can cause serious injuries and sometimes permanent damage. Some extremely serious work injuries can permanently hinder a person’s ability to get around and continue their daily duties. Factors that affect one’s quality of life such as place of work, relationships with friends and family, and social standing can all be taken away quickly by a work injury. Although, you may not be able to recover all of your losses, you may be entitled to compensation as a result of your work injury. Krol, Bongiorno & Given, LTD. provides informed advocacy in all kinds of workers’ compensation claims, including:
• Injuries to the back and neck, including severe spinal cord injuries
• Serious head injuries
• Heart problems resulting from workplace activities
• Injuries to the knees, elbows, shoulders and other joints
• Injuries caused by repetitive movements
For Illinois Workers’ Compensation claims, you will ALWAYS cheat yourself if you do not hire an experienced attorney. When you hire Krol, Bongiorno & Given, Ltd, you will have someone to guide you through the process, and when it is time to settle, we will add value to your case IN EXCESS of our fee. In the last few years, employers and insurance carriers have sought to advance the argument that when you settle a case without an attorney, your already low settlement should be further reduced by 20% so that you do not get a “windfall.” Representing yourself in Illinois is a lose-lose proposition.