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Foreign-based companies stand to save billions in litigation costs after an overshadowed ruling...

Foreign-based companies stand to save billions in litigation costs after an overshadowed ruling last month by the Supreme Court for National Australia Bank (NABZY.PK) that essentially says U.S. securities laws don't apply overseas. Scanning the dockets for winners: Vivendi (VIVDY.PK), Credit Suisse (CS), Infineon (IFNNY.PK), SocGen (SCGLY.PK) and BP.
Comments (3)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    I foresee the future when companies will be moving overseas for just this reason....
    28 Jul 2010, 12:00 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9923) | Send Message
     
    Some already have, such as Black and Decker. Others have set up significant offshore offices, such as Haliburton, while still maintaining a US head office. And probably many more are considering exiting the US via offshoring and corporate moves.

     

    However the fly in the ointment is the fact that all these foreign companies somehow think they have the natural right to sell into US markets, which is what every company in the world wants. And so far that has been true. But it may not always remain true. At some point the US may have no choice but move to "protectionist" type measures as the US continues to get hollowed out. At that point, if it ever happens, it may be seriously disadvantageous to not have US operations.
    28 Jul 2010, 12:26 PM Reply Like
  • karmin
    , contributor
    Comments (2) | Send Message
     
    Hi. I am from Mexico, a wonderful country that I love deeply despite its current bad political weather. In 2001 I fell in love with Mexico's economic History when I read "Empire and Revolution: The Americans in Mexico since the Civil War" by John M. Hart. But now I consider that the world's history is my own history. As the Mexican astronaut José Hernández said: When you are in outer space you discover that the world is one, there are no borders, no customs, just the beauty of planet Earth. // I love to do translations into Spanish. I hope I will have some free time to translate historians, philosophers and thinkers. I used a bit of your space to present myself. Of course I will comment on this and other stories as soon as I can share useful information with you. At this point I am busy trying to catch up. Cheers
    29 Jul 2010, 12:02 AM Reply Like
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