9th Circuit Correctly Applied Morrison In Investor Suit, Solicitor General Says

(May 31, 2019, 6:18 PM EDT) -- WASHINGTON, D.C. — The Ninth Circuit U.S. Court of Appeals correctly applied the U.S. Supreme Court’s holding in Morrison v. National Australia Bank, Ltd. in finding that shareholders’ federal securities law claims against Toshiba Corp. “involve a permissible domestic application of Section 10(b)” of the Securities Exchange Act of 1934, the U.S. solicitor general as amicus curiae argues in a May 20 brief filed with the Supreme Court (Toshiba Corp. v. Automotive Industries Pension Trust Fund, et al., No. 18-486, U.S. Sup.)....