In International Investment Trust v. Vencap, Ltd., the United States Court of Appeals for the Second Circuit held that federal courts have subject matter jurisdiction over a suit brought by a defrauded foreign individual under federal securities laws where fraudulent acts are perpetrated in the United States.
Sawyer, D. Jack Jr.
"Securities Regulation--Extraterritorial Application of Section 10(B) and Rule 10B-5--Relief Available for Foreign Individuals Where Fraudulent Acts Perpetrated in the United States,"
Mercer Law Review: Vol. 27:
3, Article 12.
Available at: https://digitalcommons.law.mercer.edu/jour_mlr/vol27/iss3/12