Hemispherx Biopharma, Inc. v. Johannesburg Consolidated Investments

TJOFLAT, Circuit Judge:

This lawsuit arose out of an alleged hostile takeover attempt of a publicly traded company. Plaintiff-appellant, a Delaware corporation, filed suit against two South African corporations along with several named and unnamed individual defendants under sections 13(d) and 14(e) of the Securities and Exchange Act of 1934 (“Exchange Act”) and for common law fraud. 1 Some of the defendants-appellees moved to dismiss the complaint under Federal Rule of Civil Procedure 12(b)(6), or alternatively, to stay a portion of the action pending arbitration in South Africa. The district…