The CJEU decision in Profit Investment Sim SpA v Ossi (C-366/13, 20 April 2016) provides guidance on when a secondary market purchaser of securities will be bound by an exclusive jurisdiction clause in the relevant prospectus. However, as the decision means that each case will turn on its facts, it makes it difficult for issuers of securities to predict where they might face claims and gives rise to the risk of parallel claims in multiple jurisdictions.
Donny Surtani and Nick Chapman have published an article in the September edition of the Butterworths Journal of International Banking and Financial Law in which they consider the decision and its implications. Click here to download a copy.
