Large Group of 9/11 Families Sue Saudi Arabia, JASTA Utilized
It appears the Justice Against Sponsors of Terrorism Act (JASTA) law is being utilized, after the U.S. Congress had overwritten then U.S. President Barack Obama’s veto. Both U.S. Presidents George W. Bush and Barack Obama were hard pressed to not hold the Saudi Arabian government accountable for the September 9/11 attacks for a variety of reasons. A lawsuit was filed by law firm Kreindler & Kreindler LLP, on behalf of a number of 9/11 families – the families of 800 victims, regarding damages for the 9/11 terrorist attacks. The lawsuit was filed in U.S. federal court in Manhattan against the Kingdom of Saudi Arabia on March 20, 2017. From a financial and investment standpoint, what would be the outcome if the 9/11 families won the case without the Kingdom of Saudi Arabia settling? How would that impact Saudi Arabian holdings of U.S. assets, such as Treasuries, real estate and unlisted companies?
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