Securities Law Alert, January 2011
This month’s Alert discusses: the most recent jurisprudence applying Morrison to limit the extraterritorial reach of the securities laws; a Southern District of New York decision denying class certification in two mortgage-backed securities actions involving the Royal Bank of Scotland (“RBS”); a Southern District of New York decision denying class certification in the IMAX litigation on grounds that the lead plaintiff could not establish loss causation; and a Northern District of California decision declining to enforce Oracle’s forum selection bylaw amendment in two pending derivative actions. We also review the securities litigation cases to watch in 2011 and provide a recap of the most noteworthy decisions of 2010.