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Wednesday, May 22, 2024 | Back issues
Courthouse News Service Courthouse News Service

3rd Circuit

CORPORATIONS, INTERNATIONAL LAW - The 3rd Circuit held that the Securities and Litigation Uniform Standards Act does not impede federal adjudication of a trust's state-law claims accusing banks of aiding and abetting a breach of fiduciary duty, because they are direct corporate claims assigned to plaintiff trust from the company's bankruptcy estate. Plaintiffs' foreign-law claims for aiding and abetting money laundering may also proceed. Vacated.

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