Last modified: Monday, June 28, 2010
U.S. Supreme Court cites IU law professor in ruling
FOR IMMEDIATE RELEASE
June 28, 2010
BLOOMINGTON, Ind. -- Hannah L. Buxbaum, executive associate dean and professor of law at the Indiana University Maurer School of Law, was cited in the U.S. Supreme Court's decision in Morrison v. National Australia Bank on Friday (June 24).
In Morrison, the court held that the anti-fraud provisions of the Securities Exchange Act of 1934 cannot be used in U.S. courts to challenge a transnational securities deal involving a company whose stock is not traded in the U.S., and when the trade does not occur inside the U.S.
An article by Buxbaum titled "Multinational Class Actions under Federal Securities Law: Managing Jurisdictional Conflict" was cited in both the majority opinion and in a concurring opinion by Justice John Paul Stevens. Buxbaum's article analyzes the arguments made by foreign investors seeking to justify the application of U.S. law to their claims, together with the judicial disposition of these claims. The article appeared in the Columbia Journal of Transnational Law in 2007.
Buxbaum is available to comment on the Supreme Court's decision and its implications. She can be reached through the Maurer School of Law's communications office at 812-856-4044.