As an attorney based in Miami, I see a lot of international fraud cases filed in Miami. But lately I'm seeing a lot of cases related to what can best be described as gold fraud. Of course, with the price of gold in record territory, this is not exactly a surprise. Just today, the Securities & Exchange Commission filed a fraud cases against Quri Resources, Inc., … [Read more...]
Is International Arbitration to Blame for the Sharp Decrease in Federal Jury Trials? Yes, Partly.
I have a fair number of cases in federal court at the moment. One of my clients recently asked me if their federal court case would make it to trial. While I knew that few cases these days—whether fedearl or state court—make it to trial, a recent story in the National Law Journal quantifies just how rare federal trials have become: In 1962, 11.5% of federal … [Read more...]
Hey China Addicts–The Florida Bar Just Published a Special China Edition of the International Law Quarterly. Get Your China Fix Here.
Being a Miami attorney, I am used to seeing articles and journals expounding on Latin America this and Latin America that. In a refreshing change of course, the Florida Bar just released its first ever China Edition of the International Law Quarterly. This is a milestone for the Bar. Congratulations to Alvin Lindsay and Mikki Canton for an absolutely incredible job in … [Read more...]
Extraterritorial Reach of U.S. Securities Laws: Debate Revived with Enactment of Dodd-Frank Wall Street Reform Act.
Another great article in the Harvard law School Forum of Corporate Governance and Financial Regulation. Contributor George Conway’s post, Extraterritoriality After Dodd-Frank, explains why now is a great time for “interested parties—such as the many amici curiae, foreign governments, who so emphatically urged the Supreme Court to reject … [Read more...]
Harvard Study Explores Link Between Human Rights and Corporate Securities Law
Over at the Harvard Law School Forum on Corporate Governance, there’s an insightful article on the results of a research project that examined whether and how corporate and securities law in more than 40 jurisdictions around the world currently fosters corporate respect for human rights. It is believed to be the first in-depth, comparative study of the links between … [Read more...]
The IBLA Returns from Mid-Summer Break to Celebrate Year One.
After taking part of the summer off to spend time with my family, I'm happy to be back blogging to celebrate year one of this blog. Ok, so it's technically still a few weeks away but I just couldn't wait to get an early start on year two. Stepping away from my work-life for a few weeks has been wonderful. My 20-month old daughter is growing-up so quickly. I do look … [Read more...]
U.S. Supreme Court: Securities Fraud Law Does Not Apply To Transnational Securities Deals.
The U.S. Supreme Court ruled yesterday that America’s main law against securities fraud does not apply to investment deals that occur outside of this country, even if they have some domestic impact or effect. In the opinion, the Court declared that U.S. securities fraud law cannot be used in American courts to challenge a “transnational” … [Read more...]
In the Pursuit of Justice Against Global Corporations. Many Factors to Consider.
Last week our firm filed a lawsuit against Ernst & Young for the fraudulent actions of one of its predecessor firms. Although the dispute is domestic, it is based on conduct that occurred overseas in the Philippines. The suit is similar to many others that are filed against global enterprises that boast of having a geographic presence in virtually every corner of the … [Read more...]
BP is a British Corporation Funneling Profits Overseas, Right? Not Exactly.
The New York Times published an interesting article this past Sunday on the growing displeasure in Britain over use of the name “British Petroleum” by top federal officials in the United States in referring to the company responsible for the gulf oil spill. It will be interesting to see whether President Obama will use the name "British Petroleum" tonight … [Read more...]
Swiss Banks: Not a Good Place for International Icons of Intrigue to Stash Their Cash (But Still Great for Everyone Else).
James Bond , Jason Bourne and other international icons of intrigue may soon need to look elsewhere to keep their secret bank accounts. A Swiss parliamentary committee recommended yesterday that the full Parliament back an agreement with the United States to hand over the bank details of UBS’ 4,450 American clients in spite of Switzerland’s long-standing bank … [Read more...]