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Full-Text Articles in Law
Why Civil Liability For Disclosure Violations When Issuers Do Not Trade?, Merritt B. Fox
Why Civil Liability For Disclosure Violations When Issuers Do Not Trade?, Merritt B. Fox
Faculty Scholarship
Civil damages liability for securities law periodic disclosure violations has come under attack, particularly fraud-on-the-market class-action lawsuits for investor losses incurred in connection with trading in the secondary market when the issuer has not sold shares. The main line of attack has been the weakness of the compensatory rationale for such suits. Without a compensatory justification, the attackers suggest, the availability of this cause of action is hard to defend given the very substantial use of social resources involved in the litigation that it generates. The critics are right concerning the weakness of the compensatory justification for civil liability. They …
Self-Enforcing International Agreements And The Limits Of Coercion, Robert E. Scott, Paul B. Stephan
Self-Enforcing International Agreements And The Limits Of Coercion, Robert E. Scott, Paul B. Stephan
Faculty Scholarship
International law provides an ideal context for studying the effects of freedom from coercion on cooperative behavior. To be sure, almost all academic discussions on the subject begin by asking whether international law constitutes "law." But the category of all "international law" is too big and heterogeneous to permit useful analysis. Whether to regard, say, the rules governing the conduct of war or international humanitarian law as "law" presents radically different issues than analyzing the legal character of the Treaty of Rome (the constitutive instrument of the European Community), or the Warsaw Convention (the instrument governing contracts for the carriage …