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MORRISON v. NATIONAL AUSTRALIA BANK LTD.

No. 08-1191.

130 S.Ct. 2869 (2010)

561 U.S. 247

Robert MORRISON, et al., Petitioners, v. NATIONAL AUSTRALIA BANK LTD. et al.

Supreme Court of United States.

Decided June 24, 2010.

Attorney(s) appearing for the Case

Thomas A. Dubbs, for petitioners.

George T. Conway, III, for respondents.

Matthew D. Roberts, for the United States as amicus curiae, by special leave of the Court, supporting respondents.

Justice Sotomayor recused.

Eric Seiler, Friedman Kaplan Seiler & Adelman LLP, New York, NY, A. Graham Allen, Rogers Towers, P.A., Jacksonville, FL, George T. Conway, III, Counsel of Record, John F. Lynch, Carrie M. Reilly, Wachtell, Lipton, Rosen & Katz, New York, NY, for Respondents.

Samuel Issacharoff, New York, NY, Thomas A. Dubbs, Counsel of Record, James W. Johnson, Richard W. Joffe, Barry M. Okun, Labaton Sucharow LLP, New York, NY, for petitioners.

Justice SCALIA delivered the opinion of the Court.

We decide whether § 10(b) of the Securities Exchange Act of 1934 provides a cause of action to foreign plaintiffs suing foreign and American defendants for misconduct in connection with securities traded on foreign exchanges.

I

Respondent National Australia Bank Limited (National) was, during the relevant time, the largest bank in Australia. Its Ordinary Shares—what in America would be...

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