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Rule 10b-5 And The Stockholder's Derivative Action, Lewis D. Lowenfels
Rule 10b-5 And The Stockholder's Derivative Action, Lewis D. Lowenfels
Vanderbilt Law Review
This article focuses upon a new, emerging private cause of action based upon section 10(b) and rule 10b-5-a stockholder's derivative action initiated on behalf of a corporation which has been defrauded in connection with the purchase or sale of securities. Five reported cases, three decided in the last three months of 1964, have sustained a stockholder's derivative suit based upon section 10(b) and rule 10b-5. The significance of these decisions becomes apparent, not only when one considers that the derivative suit has traditionally been an internal corporate matter governed exclusively by state law, but also when one focuses upon the …
William 0. Douglas -- His Work In Policing Bankruptcy Proceedings, John W. Hopkirk
William 0. Douglas -- His Work In Policing Bankruptcy Proceedings, John W. Hopkirk
Vanderbilt Law Review
William 0. Douglas, while associated with the Securities and Exchange Commission during the mid-nineteen thirties, was responsible for a study of methods and procedures of corporate reorganization. By examining this area of Douglas' work, we can compare the position on corporate reorganization which the Justice developed as an administrative official for the New Deal with his later consideration of the same problems as a member of the Supreme Court of the United States. Through this comparison we can observe a number of basic attitudes which were manifested by Douglas both before and since he has joined the Court. Important among …