Sarah S. Gold, a partner at Proskauer Rose, and Richard L. Spinogatti, a senior counsel at the firm, write that determining U.S. subject matter jurisdiction over complex transnational securities fraud cases will always need to be governed by flexible and fact-specific analyses. However, for purposes of greater judicial uniformity and a greater degree of certainty in the international business community, the district courts should have better guidance. Perhaps, in one of the increasing number of transnational cases, the Second Circuit will be given the opportunity to provide such guidance on these difficult issues.
Corporate and Securities Litigation
New York Law Journal
August 13, 2008
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