December 14, 2010
Practical Law The Journal (December 2010/January 2011), the "GC Agenda" section quoted partner Michael C. Lynch on recent court judgments, which limited the application of U.S. laws in cross-border disputes.
Mr. Lynch discussed the U.S. Supreme Court case, Morrison v. National Australia Bank Ltd. It held the U.S. and foreign defendants were not liable under section 10(b) of the Exchange Act, for alleged fraud of non-U.S. investors, because there was no "affirmative implication" that Congress intended the law to apply abroad. He also commented on Kiobel v. Royal Dutch Petroleum, where the Second Circuit held corporations may not be held liable under the Alien Tort Claims Act for crimes committed against non-U.S. citizens in foreign countries.