Second Circuit Endorses Extraterritorial Limitation for Criminal Securities Fraud Prosecutions

On August 30, 2013, the United States Court of Appeals for the Second Circuit handed down its decision in United States v. Vilar, which unequivocally limits the U.S. government’s ability to use Section 10(b) of the Securities Exchange Act of 1934 in…
By: Orrick, Herrington & Sutcliffe LLP