Securities fraud has increasingly become a global economic problem. It is endemic in many domestic markets, such that its aggregate impact, calculated globally, is significant. The use of private enforcement in US courts to address cross-border fraud has proved complicated. This is not surprising: Rule 10b-5 under the Securities Exchange Act of 1934, which serves as the basis for most private fraud litigation, creates only an implied cause of action and therefore contains no legislative guidance concerning its application in cases with foreign elements. Part II of this article sketches out the governance obligations assumed by the directors of foreign companies that engage in US securities activity, and the potential liability of those directors under the securities laws. Part III then ...
In line with Hart, the trial judge held that the Government had personal jurisdiction over the accused for court-martial purposes because the accused's pay was not "ready for delivery." Because the accused's pay had not been certified by the finance clerk and had not been sent to DFAS for final payment, the accused was prosecuted for his offenses. [...] the facts of the case and the policies and procedures of the local finance office allowed the U.S. Army to prosecute this Soldier for his crimes.
Civil Procedure Personal jurisdiction
Congress enacted the Anti-Terrorism Act to create a federal cause of action for torts arising out of acts of international terrorism that cause injuries to U.S. citizens. Even though victims have benefited from the Act, they have also faced significant hurdles in bringing their causes of action. Meeting the requirements for personal jurisdiction has been one of these major difficulties. Concerns over the lack of minimum contacts between the terrorist defendants and the United States sufficient to satisfy the requirements of due process have led many courts to conclude that they did not have personal jurisdiction over the defendants. This Note proposes three methods that courts can use to exert personal jurisdiction over terrorists under the Anti-Terrorism Act. First, by drawing an analo...
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