"The Court asked the U.S. Solicitor General to provide the
federal government's views on when U.S. laws against securities
fraud apply to transnational securities dealings — an issue
that the Court has never ruled upon, but that has produced a deep
division in lower courts. The case is Morrison, et al., v. National
Australia Bank, et al. (08-1191). There is no timetable for the
government's response. After those views come in, the Court will
then decide, during its next Term, whether to hear and decide the
case.
"The Court, continuing to work its way toward a summer recess,
probably by the end of this month, issued one ruling on the merits,
and a second summary decision without briefing or argument."
