By Max Jaeger (April 15, 2022, 6:20 p.m. EDT) — A New York judge has dismissed the nation of Qatar’s lawsuit alleging that a Saudi bank conspired to devalue its currency and undermine its ability to host the World Cup football 2022, concluding that the Empire State does not have jurisdiction over the dispute between a foreign nation and a foreign bank.
New York Supreme Court Justice Melissa Crane on Thursday rejected Qatar’s argument that Samba Financial Group SJSC’s use of Bloomberg and Reuters’ New York-based financial exchange servers triggered the law long arm of the state.
“The purpose of the alleged fraudulent scheme was to devalue the Qatari currency, a detriment that would necessarily…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!