Firm to advise investors over landmark compensation case

The briefing relates to a high profile US Supreme Court case, Morrison v National Australia Bank, the owner of Yorkshire Bank. Labaton Sucharow believes the case has "formidable potential implications" for non-US investors and shareholders.

If the Supreme Court rules in favour of the claimants, it means that non-US investors will be able to claim for losses where investment advice has been found to be negligent. So if a pension fund finds that a bad investment in the US has left it with a black hole in its pension fund, it could claim losses from its investment advisers and their insurers.

The case in itself – Morrison v National Australia Bank – is seen as largely irrelevant to UK investors. It is more about the precedent that the ruling could set. The case involves an alleged accounting fraud at a National Australia Bank subsidiary in Florida. Labaton Sucharow's senior partner Tom Dubbs is arguing on behalf of non-US investors seeking compensation in this action.

At the briefing in Leeds Mr Dubbs will address what the potential impact of the Supreme Court's decision will mean for non-US investors currently involved in seeking financial and legal redress via the US system through class actions.

The briefing is at the Radisson on the Headrow from 8.30am.