Anwar et al v. Fairfield Greenwich Limited et al

Filing 481

NOTICE of Supplemental Authority re: #387 MOTION to Dismiss.. Document filed by Standard Chartered International (USA) Ltd., Standard Chartered PLC. (Attachments: #1 Exhibit Supplemental Authority)(Nelles, Sharon)

Anwar et al v. Fairfield Greenwich Limited et al

Doc. 481

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK ---------------------------------------------------------------------- x PASHA ANWAR, et al., ) ) Plaintiffs, ) ) v. ) ) Master File No. 09-CV-118 (VM) FAIRFIELD GREENWICH LIMITED, et al., ) ) Defendants. ) ) This Document Relates To: Bhatia v. Standard Chartered ) International (USA) Ltd., No. 09-CV-2410; Tradewaves v. ) Standard Chartered International (USA) Ltd., No. 09-CV- ) 9423. ) ---------------------------------------------------------------------- x STANDARD CHARTERED INTERNATIONAL (USA) LTD. AND STANDARD CHARTERED PLC'S NOTICE OF SUPPLEMENTAL AUTHORITY Defendants Standard Chartered International (USA) Ltd. ("SCI") and Standard Chartered PLC respectfully call the Court's attention to the Supreme Court's decision, dated June 24, 2010, in Morrison v. Nat'l Australia Bank Ltd., No. 08-1191 (attached hereto as Exhibit A), which affirmed the dismissal of foreign plaintiffs' claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 on the ground that Section 10(b) applies exclusively to "transactions in securities listed on domestic exchanges, and domestic transactions in other securities." Slip Op. at 18. This decision--which alters decades

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of Second Circuit law--provides strong additional support for the Standard Chartered Defendants' motion to dismiss the Section 10(b) and 20(a) claims in Bhatia and Tradewaves. Dated: June 28, 2010 New York, New York /s/ Sharon L. Nelles Sharon L. Nelles SULLIVAN & CROMWELL LLP 125 Broad Street New York, New York 10004 Telephone: [phone] Facsimile: [phone] [e-mail] Attorneys for Defendants Standard Chartered International (USA) Ltd. and Standard Chartered PLC.

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