14.03.2016 - Sovereign Wealth Fund Not Immune From U.S. Securities Fraud Suit
A U.S. court has ruled that a sovereign wealth fund is subject to U.S. securities fraud claims when U.S. investors rely on misrepresentations by the fund. Foreign investors can bring a claim if they can show a U.S. investor was harmed. This recent decision offers reassurance to companies doing business with sovereign wealth funds that they have a forum for the resolution of disputes in the U.S. when the fund’s conduct "causes a direct effect in the United States."..............................................Full Article: Source
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