Supreme Court Debates Whether Class Action Has Florida or Australia Written All Over It
During oral arguments Monday, U.S. Supreme Court justices appeared to disagree with arguments that an Australian bank could be sued here by its foreign shareholders for alleged securities fraud.
A lawyer for the investors argued that the case deserves a hearing in a U.S. federal court because inaccurate information that misled the investors was generated in Florida, the National Law Journal reports. But none of the justices appeared to accept that assertion, according to the Associated Press.
Justice Ruth Bader Ginsburg explained her opposition. ”Australian plaintiffs, Australian defendants, shares purchased in Australia. It has Australia written all over it,” she said. ”Isn’t the most appropriate choice the law of Australia rather than the law of United States?”
Thomas Dubbs of Labaton Sucharow represents the plaintiffs. “From our point of view, it has Florida written all over it,” he responded. SCOTUSblog says he “argued energetically.”
The case is Morrison v. National Australia Bank.