Forum
U.S. Supreme Court
Case Status
Decided
Docket Number
Term
Cert. Denied
Lower Court Opinion
Questions Presented
The question presented here is whether the Securities Exchange Act applies, without exception, whenever a claim is based on a domestic transaction, as the Ninth Circuit held below, or whether in certain circumstances the Exchange Act does not apply, despite the claim being based on a domestic transaction, because other aspects of the claim make it impermissibly extraterritorial, as the Second Circuit has held. In other words, is a domestic transaction necessary and sufficient for application of the Exchange Act, or is a domestic transaction necessary but, by itself, not sufficient for application of the Act?
Case Updates
Cert. petition denied
June 24, 2019
U.S. Chamber files amicus brief encouraging the Supreme Court to grant cert. and hold that a domestic securities transaction is a necessary—but not sufficient—basis for applying U.S. securities laws when all other relevant conduct occurred overseas
December 06, 2018
Click here to view the Chamber’s amicus brief.
George T. Conway III of Watchtell, Lipton, Rosen & Katz served as co-counsel for the U.S. Chamber of Commerce on behalf of the U.S. Chamber Litigation Center.
Case Documents
- Opinion -- Stoyas v. Toshiba Corp. (Ninth Circuit).pdf
- Cert Petition Toshiba Corp v Automotive Industries Pension Trust Fund U S Supreme Court 0
- Appendix Toshiba Corp v Automotive Industries Pension Trust Fund U S Supreme Court 0
- Amicus Brief of the Ministry of Economy, Trarde and Industry of Japan -- Toshiba Corp. v. Automotive Industries Pension Trust Fund (U.S. Supreme Court).pdf
- U.S. Chamber Amicus Brief -- Toshiba Corp. v. Automotive Industries Pension Trust Fund (U.S. Supreme Court).pdf