Like a stone cast into a pond, the United States Supreme Court's 2010 decision in Morrison v. National Australia Bank produced an impact the consequences of which continue to ripple in an ever widening circle. In the narrowest circle, application of Morrison's location of the transaction test, and Congress' hurried and incomplete response in the Dodd-Frank Act, present questions regarding when U.S. government prosecutions and private class actions brought under Rule 10B-5 can reach frauds that take place in increasingly globalized securities trading. Moving outward from securities regulation, Morrison's use of the presumption against extraterritorial application of U.S. law casts a shadow over the application of a host of other U.S. laws, such as the Alien Tort Statute, to conduct beyond the United States. At the outermost circle, retrenchment of U.S. enforcement and private remedies prompts the question of whether other nations will move to fill the void, particularly in terms of providing procedures that allow for practical adjudication of actions involving large numbers of potential claimants from various countries.
Panels of leading experts addressed these issues on March 1, 2013, at the McGeorge School of Law, University of the Pacific, in Sacramento, California. The McGeorge Global Center for Business & Development organized the March 1 conference as the first of a two-part, two-location examination of these issues from both a United States and a European perspective undertaken in cooperation with the Max Planck Institute Luxembourg for International, European and Regulatory Procedural Law. The second session, organized by the Max Planck Institute Luxembourg, focused on European developments dealing with cross-border collective actions. It will take place in Luxembourg on March 25, 2013.
Read more in this article about the symposium
Watch video of the symposium on YouTube here
This event was in collaboration with the Max-Planck-Institute Luxembourg for International, European and Regulatory Procedural Law.
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| 2013 | ||
| Thursday, January 3rd | ||
| 9:30 AM |
In Morrison’s Wake: Issues Presented Franklin A. Gevurtz, University of Pacific McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 9:30 AM - 10:00 AM |
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|---|---|---|
| 9:30 AM |
Francis J. Mootz III, University of Pacific McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 9:30 AM - 10:00 AM |
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| 10:00 AM |
Richard Buxbaum, UC Berkeley School of Law McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 10:00 AM - 11:30 AM |
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| 10:00 AM |
Private securities litigation from a comparative perspective – Disparate Approaches Marc Steinberg, SMU Dedman School of Law McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 10:00 AM - 11:30 AM |
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| 10:00 AM |
Recent developments in The Netherlands Winfried H.A.M. van der Muijsenbergh, University of the Pacific McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 10:00 AM - 11:30 AM |
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| 1:00 PM |
Extraterritoriality and Universal Jurisdiction Vivian Curran, University of Pittsburgh School of Law McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 1:00 PM - 3:00 PM |
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| 1:00 PM |
Understanding the presumption against extraterritoriality after Morrison v. National Australia Bank William Dodge, UC Hastings College of the Law McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 1:00 PM - 3:00 PM |
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| 1:00 PM |
Kenneth Gallant, University of Arkansas at Little Rock McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 1:00 PM - 3:00 PM |
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| 3:30 PM |
The Missing Piece: What’s the role of state law in disputes with foreign elements? Katherine Florey, UC Davis School of Law McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 3:30 PM - 4:30 PM |
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| 3:30 PM |
Why the Morrison test doesn't work Marco Ventoruzzo, Bocconi University McGeorge School of Law, University of the Pacific, Sacramento, CA; Northwest Hall, rooms S-4 and S-5 3:30 PM - 4:30 PM |
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