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Second Circuit provides guidance on what constitutes “domestic” securities transactions for Section 10(b) liability

USA - April 4 2012 In 2010, the US Supreme Court held in Morrison v. National Australia Bank Ltd. that Section 10(b) of the Securities Exchange Act of 1934 only applies to “transactions in securities listed on domestic exchanges and domestic transactions in other securities.”

Co-authors: H. Gregory Baker, Robert J. Malionek.