Stock Purchases Sufficiently Domestic Under Morrison, Investor Argues

Mealey's (February 7, 2022, 2:18 PM EST) -- NEW YORK — Dismissal of amended shareholder claims in a securities class action against a Canada-based cannabis company and others stemming from the defendants’ alleged misrepresentations regarding financing arrangements the company made with a lender is unnecessary because the defendants have conceded that the shareholder engaged in domestic transactions as required pursuant to the U.S. Supreme Court’s ruling in Morrison v. National Australia Bank Ltd., the shareholder argues in a Feb. 3 opposition brief filed in New York federal court....