UK Government - US Supreme Court decision

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Slaughter and May worked closely with Cravath Swaine & Moore LLP and Treasury Legal Advisers in filing a brief with the US Supreme Court on behalf of the Government of the United Kingdom as amicus curiae in an important case for non-US companies facing US securities law class actions from non-US investors.

On 24 June 2010, the US Supreme Court issued its historic decision preventing non-US investors who purchase shares in non-US companies on non-US exchanges from joining in US class actions based on anti-fraud provisions of US securities laws (Morrison v National Australia Bank, No. 08-1191 (U.S. June 24, 2010)). A number of UK companies, including BP and RBS, have been facing claims of this kind.

Charles Randell (partner), Elizabeth Barrett (partner)