The Knowledge Congress Has Scheduled a Live Webcast on Stricter Rules Governing “Foreign-Cubed” Claims for Attorneys

Jersey City, NJ, April 17, 2009 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, announced today that it has scheduled a live webcast on Stricter Rules Governing “Foreign-Cubed” Claims for Attorneys. This two-hour event is scheduled on Wednesday, May 27, 2009, at 3:00 PM - 5:00 PM EDT.

One type of litigation that has been receiving a lot of attention lately is so-called “Foreign cubed” cases. These refer to actions brought by foreign plaintiffs against foreign issuers in a U.S. court for violations of U.S. securities laws based on transactions in foreign countries. These cases include not only investors who purchased the securities in question on a U.S. securities exchange, but also foreign investors who purchased the securities on a foreign securities exchange. The application of U.S. securities laws to such foreign-based transactions is problematic for courts because of the potential to generate conflicts with other countries. Significantly, in October 2008, in Morrison v. National Australia Bank Ltd., the Second U.S. Circuit Court of Appeals refused to categorically bar foreign plaintiffs from suing in U.S. courts foreign issuers of securities for violations of U.S. securities laws based on transactions in foreign countries. Instead, it held that determining subject matter jurisdiction over foreign-cubed claims requires a fact-specific examination in each case. And, plaintiffs will still need to show that the alleged wrongful conduct had the required nexus in the United States. After this decision, many attorneys were left wondering, what does Morrison mean for the future?

This Live Webcast will scrutinize the court’s reasoning in this decision and its impact on decisions in the Second Circuit and the Southern District of New York and the entire securities industry. The program is appropriate for securities and litigation professionals alike.

Speakers/Faculty Panel

Andrew N. Vollmer, Partner, Securities Department, Wilmer Cutler Pickering Hale and Dorr LLP, former Deputy General Counsel at the U.S. Securities and Exchange Commission

William K. Dodds, Partner, Co-Chair, White Collar and Securities Litigation Group, Dechert LLP

Joseph N. Sacca, Partner, Litigation, Skadden, Arps, Slate, Meagher & Flom LLP

Grace Lamont, Partner, Leader of the Securities Litigation Practice, PricewaterhouseCoopers LLP

For updated list of the faculty panel, please visit: http://knowledgecongress.org/event_2009_SRG.html

About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series

The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour webcasts to study the impact of changing regulations.” To contact or to register to an event, please visit: www.knowledgecongress.org.

###