Joseph N. Sacca, Partner, Litigation, Skadden to Speak at KC’s Event on “Foreign-Cubed” on 05/27/09
Jersey City, NJ, April 17, 2009 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts has announced today that Joseph N. Sacca, Partner, Litigation, Skadden, Arps, Slate, Meagher & Flom LLP will speak at the Knowledge Congress’ webcast entitled: “Stricter Rules Governing “Foreign-Cubed” Claims For Attorneys” This event is scheduled for May 27, 2009, at 3:00 PM - 5:00 PM EDT. (For further details, please visit: http://knowledgecongress.org/event_2009_SRG.html)
Event Synopsis:
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.
About Joseph N. Sacca
Joseph N. Sacca represents a broad spectrum of domestic and foreign clients in complex corporate, commercial and securities litigation in federal and state courts and in arbitration proceedings.
Mr. Sacca has represented public corporations and accounting firms in some of the most significant securities litigations in recent years, including class actions against DaimlerChrysler AG and Cendant Corporation. He successfully defended DaimlerChrysler in the trial of a multibillion-dollar securities fraud action brought by Kirk Kerkorian's Tracinda Corporation, a victory the National Law Journal named the "Top Defense Win of 2005."
Mr. Sacca has also had substantial experience representing public corporations and private equity firms in litigation relating to all aspects of mergers and acquisitions, including hostile tender offers, shareholder actions and disputes arising from terminated merger agreements. Additionally, he has represented clients as plaintiffs and defendants in cases in the areas of civil RICO, tortious interference, fraud, contract, fiduciary duties and noncompetition agreements.
Mr. Sacca devotes substantial time to pro bono work. Among his successes in this area was his representation of plaintiffs in the trial of a housing discrimination case in which the jury awarded what was widely reported to be the largest verdict ever against a New York City cooperative.
About Skadden, Arps, Slate, Meagher & Flom LLP and affiliates
Serving clients in every major international financial center, Skadden, Arps, Slate, Meagher & Flom LLP and affiliates ("Skadden, Arps" or "Skadden") is one of the leading law firms in the world, with 23 offices and more than 2,000 attorneys. Their diversified practice enables them to offer solutions to challenging legal issues in virtually every area of corporate law, providing the advice clients need to compete in a global business environment. Skadden represents a broad spectrum of clients, including approximately 50 percent of the Fortune 250 industrial and service corporations, as well as financial and governmental entities, small high technology start-up companies, and cultural, educational and charitable institutions. For 60 years, the firm has advised such entities in many of the most significant corporate and litigation matters worldwide.
For more information about Joseph N. Sacca and Skadden please visit: www.skadden.com
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.
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Event Synopsis:
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.
About Joseph N. Sacca
Joseph N. Sacca represents a broad spectrum of domestic and foreign clients in complex corporate, commercial and securities litigation in federal and state courts and in arbitration proceedings.
Mr. Sacca has represented public corporations and accounting firms in some of the most significant securities litigations in recent years, including class actions against DaimlerChrysler AG and Cendant Corporation. He successfully defended DaimlerChrysler in the trial of a multibillion-dollar securities fraud action brought by Kirk Kerkorian's Tracinda Corporation, a victory the National Law Journal named the "Top Defense Win of 2005."
Mr. Sacca has also had substantial experience representing public corporations and private equity firms in litigation relating to all aspects of mergers and acquisitions, including hostile tender offers, shareholder actions and disputes arising from terminated merger agreements. Additionally, he has represented clients as plaintiffs and defendants in cases in the areas of civil RICO, tortious interference, fraud, contract, fiduciary duties and noncompetition agreements.
Mr. Sacca devotes substantial time to pro bono work. Among his successes in this area was his representation of plaintiffs in the trial of a housing discrimination case in which the jury awarded what was widely reported to be the largest verdict ever against a New York City cooperative.
About Skadden, Arps, Slate, Meagher & Flom LLP and affiliates
Serving clients in every major international financial center, Skadden, Arps, Slate, Meagher & Flom LLP and affiliates ("Skadden, Arps" or "Skadden") is one of the leading law firms in the world, with 23 offices and more than 2,000 attorneys. Their diversified practice enables them to offer solutions to challenging legal issues in virtually every area of corporate law, providing the advice clients need to compete in a global business environment. Skadden represents a broad spectrum of clients, including approximately 50 percent of the Fortune 250 industrial and service corporations, as well as financial and governmental entities, small high technology start-up companies, and cultural, educational and charitable institutions. For 60 years, the firm has advised such entities in many of the most significant corporate and litigation matters worldwide.
For more information about Joseph N. Sacca and Skadden please visit: www.skadden.com
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.
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The Knowledge Congress
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
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