The Paul, Weiss Litigation Department is led by a team of the country’s most accomplished trial lawyers. Our litigators handle the most complex and demanding lawsuits, class actions, government investigations, criminal prosecutions and restructurings. Our clients include Fortune 50 corporations and other prominent companies in the financial services, investment, medical device, pharmaceutical, sports, technology, energy, media and insurance industries. Every day, we are called on by chief executives, board chairs, general counsel, investors and entrepreneurs for our unmatched trial skills, sophisticated business judgment and renowned strategic advice.
Second Circuit Review: Determining 'Domestic Transaction' Under 'Morrison'
April 3, 2012
Litigation partners Martin Flumenbaum and Brad S. Karp's Second Circuit Review column appeared in the March 28 issue of the New York Law Journal. In this article the authors discuss Absolute Activist Value Master Fund Ltd. v. Ficeto, in which the U.S. Court of Appeals for the Second Circuit considered the circumstances under which the purchase or sale of a security that is not listed on a domestic exchange should be considered ":domestic." The court held that under the Supreme Court's 2010 decision in Morrison v. National Australia Bank, a plaintiff must allege facts plausibly showing either that irrevocable liability was incurred or that title was transferred within the United State. Litigation associate Alastair Wood assisted in the preparation of the article.