North South Finance Corp. v. Al-Turki

JACOBS, Circuit Judge:

At issue on this appeal is the extraterritorial reach of the Racketeer Influenced and Corrupt Organizations Act (“RICO”), 18 U.S.C. § 1961 et seq., specifically, the application of RICO to a dispute among groups of foreign companies and foreign nationals, arising out of the 1989 sale and reorganization of a French bank named Saudi European Bank (“SEB”). The plaintiffs — none of them American — are the holding companies that owned and eventüally sold SEB, and the majority stockholders of the holding companies.1 They allege under RICO a pattern of racketeering by two…