Andrew N. Vollmer, Partner, Securities Department, WilmerHale 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 Andrew N. Vollmer, Partner, Securities Department, WilmerHale, former Deputy General Counsel at the U.S. SEC 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 Andrew N. Vollmer
Andrew Vollmer is a partner in the Securities Department, and a member of the Securities Litigation and Enforcement Practice Group. He returned to the firm in 2009 after serving as Deputy General Counsel at the Securities and Exchange Commission.
Mr. Vollmer's practice concentrates on securities enforcement, private securities litigation and internal investigations. In addition, he advises on matters related to the SEC's administration of the federal securities laws.
As Deputy General Counsel, Mr. Vollmer advised the Commission on matters such as enforcement actions, rulemakings, appellate briefs and adjudications. He also served briefly as Acting General Counsel. During his tenure at the SEC, Mr. Vollmer was involved in a variety of Commission initiatives, including the SEC's participation in several Supreme Court cases and the Commission's response to court review of SEC orders and rulemakings. He also worked on the Commission's proposal and adoption of rules addressing the brokerage activities of banks; the proposal and adoption of a rule to protect fund investors from fraudulent adviser conduct during the time of their investments; and the memoranda of understanding with the Federal Reserve and the Commodity Futures Trading Commission.
Mr. Vollmer has spoken and written frequently on securities law and related matters. For example, he has spoken often on various SEC topics including internal investigations at the Stanford Law School's Directors' College.
About WilmerHale
WilmerHale offers unparalleled legal representation across a comprehensive range of practice areas that are critical to the success of our clients. They practice at the very top of the legal profession and offer a cutting-edge blend of capabilities that enables us to handle deals and cases of any size and complexity. Today, businesses face greater scrutiny and more “bet the company” issues than ever before. With a practice unsurpassed in depth and scope by any other major firm, they have the ability to anticipate obstacles, seize opportunities and get the case resolved or the deal done—and the experience and know-how to prevent it from being undone.
For more information about Andrew Vollmer and WilmerHale please visit: http://www.wilmerhale.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 Andrew N. Vollmer
Andrew Vollmer is a partner in the Securities Department, and a member of the Securities Litigation and Enforcement Practice Group. He returned to the firm in 2009 after serving as Deputy General Counsel at the Securities and Exchange Commission.
Mr. Vollmer's practice concentrates on securities enforcement, private securities litigation and internal investigations. In addition, he advises on matters related to the SEC's administration of the federal securities laws.
As Deputy General Counsel, Mr. Vollmer advised the Commission on matters such as enforcement actions, rulemakings, appellate briefs and adjudications. He also served briefly as Acting General Counsel. During his tenure at the SEC, Mr. Vollmer was involved in a variety of Commission initiatives, including the SEC's participation in several Supreme Court cases and the Commission's response to court review of SEC orders and rulemakings. He also worked on the Commission's proposal and adoption of rules addressing the brokerage activities of banks; the proposal and adoption of a rule to protect fund investors from fraudulent adviser conduct during the time of their investments; and the memoranda of understanding with the Federal Reserve and the Commodity Futures Trading Commission.
Mr. Vollmer has spoken and written frequently on securities law and related matters. For example, he has spoken often on various SEC topics including internal investigations at the Stanford Law School's Directors' College.
About WilmerHale
WilmerHale offers unparalleled legal representation across a comprehensive range of practice areas that are critical to the success of our clients. They practice at the very top of the legal profession and offer a cutting-edge blend of capabilities that enables us to handle deals and cases of any size and complexity. Today, businesses face greater scrutiny and more “bet the company” issues than ever before. With a practice unsurpassed in depth and scope by any other major firm, they have the ability to anticipate obstacles, seize opportunities and get the case resolved or the deal done—and the experience and know-how to prevent it from being undone.
For more information about Andrew Vollmer and WilmerHale please visit: http://www.wilmerhale.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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