The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
The Pfizer-Allergan deal comes to a screeching halt, while a document dump exposes the elite's offshore tax finagling. Plus: An heir apparent loses the keys to the Magic Kingdom.
from Alison Frankel:
There are so many interesting jurisdictional issues in the U.S. government's prosecution of foreign bankers allegedly involved in the manipulation of benchmark London Interbank Offered Rates, calculated in London under the auspices of the British Bankers' Association. Last December, Covington & Burling laid out at least three solid arguments for why U.S. courts shouldn't hear the government's criminal case against Roger Darin, a Swiss UBS interest-rate trader charged with one count of conspiracy to commit wire fraud by supposedly submitting false reports of UBS' yen Libor, including the territorial limits of the U.S. wire fraud statute and Darin's due process right not to be tried in U.S. courts for conduct that took place entirely outside of the United States.