Fed. Sec. L. Rep. P 98,815 Itoba Limited v. Lep Group Plc, William R. Berkley, John L. Read, Peter J. Grant, John R. East

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the situs where allegedly fraudulent SEC filings were prepared should not be determinative of jurisdictional questions
• holding that SEC filings that include substantial misrepresentations may establish subject matter jurisdiction
• finding jurisdiction under the effects test because the “fraud occurr[ed] on an American exchange and ... impacted detrimentally upon thousands of United States shareholders in the defrauded company, ie., over $ 100 million lost in the shareholders’ corporate equity.”
• “When [SEC filings in the United States] include substantial misrepresentations, they may be a predicate for subject matter jurisdiction.”
• jurisdiction exercised where plaintiffs parent, 50% of whose shares were held in the U.S., financed the foreign trading and actually bore the relevant loss
• “an admixture or combination of the two [tests] often gives a better picture of whether there is sufficient United States involvement to justify the exercise of jurisdiction by an American court”

Source: CourtListener parenthetical corpus (CC0).