Won rights for U.S. shareholders to sue foreign companies who sell securities in the U.S. for Class of investors in Philip Services Corp. securities

Case Abstract
Led by Neil Selinger, Lowey Dannnenberg won a landmark decision in the Second Circuit Court of Appeals protecting the rights of United States citizens to sue foreign companies to recover for securities fraud.

Client
Class of investors in Philip Services Corp. securities.

Case Name
DiRienzo v. Philip Services Corp., 294 F.3d 21 (2d Cir.), cert. denied, 123 S.Ct. 556 (2002).

Result
Won rights for U.S. shareholders to sue foreign companies who sell securities in the U.S.

Case Details
In a case in which Lowey Dannenberg is acting as lead counsel, the United States Court of Appeals for the Second Circuit has issued a landmark decision protecting the rights of United States citizens to sue foreign companies who fraudulently sell their securities in the United States.