On November 30, 2009, the United States Supreme Court granted certiorari to hear the appeal of a Second Circuit Court of Appeals decision affirming the dismissal of an “F-Cubed” securities class action -- i.e., a securities class action brought by foreign investors who purchased shares in a foreign company on a foreign stock exchange -- on subject matter jurisdiction grounds. The case at issue, Morrison et al. v. National Australia Bank Ltd., was the Second Circuit’s first decision addressing whether a U.S. court has subject matter jurisdiction to hear an F-Cubed securities class action. Notably, the Supreme Court, in granting certiorari, disregarded the U.S. Solicitor General’s amicus brief, which had urged the Supreme Court to decline the National Australia Bank case on the ground that the “petitioners had cite[d] no decision indicating that another circuit would have allowed the [National Australia Bank case] to go forward.” For more about the Second Circuit’s decision, see our coverage of that decision by clicking here.