Law Commons^™

Recent Cases, James H. Lokey, Jr., Stephen D. Goodwin, Charles L. Jarik

Vanderbilt Law Review

Constitutional Law--Criminal Procedure-Circuits Split over Application of Stone v. Powell's "Opportunity for Full and Fair Litigation"

James H. Lokey, Jr.

In Stone v. Powell,' the third 1976 decision, the Supreme Court made a limited but distinct break with precedent. Stone held that a state prisoner may not be granted federal habeas relief on the ground that evidence obtained in an unconstitutional search and seizure was introduced at his trial as long as the state has provided an "opportunity for full and fair litigation" of his fourth amendment claim." The Court, as noted previously, did not define what kind of "opportunity" …

Exemptions Under The Proposed Federal Securities Code, James H. Cheek, Iii

Vanderbilt Law Review

The policy of full, accurate, and continuous disclosure to investors embodied in the Securities Act of 1933 (1933 Act)' and in the Securities Exchange Act of 1934 (1934 Act) continues unfettered* Lecturer in under the proposed Federal Securities Code (the Code), but the provisions effecting that policy are consolidated and simplified. Under the Code, a company must register itself (not its securities) with the Commission after the first year-end at which it has at least one million dollars in total assets and three hundred holders of its aggregate, nonexempted securities or when the Code first requires it to file an …

Postregistration Provisions Of The Federal Securities Code, Alfred J. Law

Vanderbilt Law Review

The discussion of Part VI of the Federal Securities Code, dealing with postregistration provisions, falls naturally into three general areas: reporting requirements for registered companies, tender requests, and solicitation of proxies. This article will examine each category separately.

The Securities And Exchange Commission And The Code, Ray Garrett, Jr., William B. Weaver

Vanderbilt Law Review

Under the Federal Securities Code, the Commission's discretionary power will be restricted by the Code itself, by formal and informal congressional oversight, and by the Commission's traditionally judicious use of its powers. With these restraints, Congress should not be reluctant to grant to the Commission the new powers proposed in the Code. This article has concentrated on the balance between those new powers and the constraints on the Commission. It should be emphasized, as it certainly is elsewhere in this symposium, that the Code's changes of the Commission's responsibilities will enhance the Commission's ability to administer the securities laws fairly …

Preamble, Herbert Wechsler

Vanderbilt Law Review

As readers of the Review are undoubtedly aware, the American Law Institute was organized in 1923 as a permanent organization of lawyers, judges, and law teachers "to promote," as its charter recites, "the clarification and simplification of the law and its better adaptation to social needs." ...

Work on the Code began' in 1969 with Professor Loss as the Reporter, aided by consultants and advisers whose experience and expertise is equaled only by their high distinction in this field. Five tentative drafts have been printed in the years from 1972 to 1976 and a sixth, which now is off the …

The Issuer Registration And Distribution Provisions Of The Proposed Federal Securities Code, Kenneth J. Bialkin

Vanderbilt Law Review

Section 403 of the Code provides that "[a] registration statement shall contain whatever information, financial statements, material contracts and other documents the Commission specifies by rule. This complete legislative delegation to the Commission, in Professor Loss's view, "seems perfectly safe in the year 1972. "One need not criticize the Commission's competence in the disclosure area, however, to suggest that after some 35 years of experience with the securities laws a statute prescribing the basic disclosure items (similar to the 1933 Act's Schedule A) should be possible, as well as appropriate and desirable. The wisdom of leaving the entire job to …

Public Utility Holding Company Act Of 1935 -- Fossil Or Foil?, Douglas W. Hawes

Vanderbilt Law Review

The 1935 Act, like the Investment Company Act of 1940, is concerned primarily with regulation and does not emphasize disclosure, as does the Securities Act of 1933. Under the 1935 Act, unless an exemption is available, all holding companies whose subsidiaries are engaged in the electric utility business or in the retail distribution of natural or manufactured gas must register. Once registered, a holding company becomes subject to two principal kinds of provisions under the Act. The geographical integration and corporate simplification process mandated by section 11 (and sections 6, 7, 9, and 10, which are designed to prevent new …

Introduction: The Federal Securities Code -- Its Purpose, Plan, And Progress, Louis Loss

Vanderbilt Law Review

The first generation of federal securities statutes, vintage 1933-40, has sprouted tentacles in so many areas of the American corpus juris that it is not easy to think of any field in which so much law-and lore-have been built on so flimsy a statutory base. The nineteen-page grandfather statute, the Securities Act of 1933, goes on, with a continually enhanced fertility that belies its years, to yield esoterica like the "140 series" of rules: professed "safe harbors" whose entrances are guarded by Cerberus atop Scylla and a bevy of Sirens cavorting in Charybdis. In the area of "fraud" that peripatetic …

Recent Cases, Sara P. Walsh, Don B. Cannada, Frances L. Adams, William T. Luedke, Iv

Vanderbilt Law Review

Civil Procedure - Appellate Jurisdiction - Orders Denying Disqualification of Counsel on Ethical Grounds Are Not Final Decisions Subject to Immediate Review Under 28 U.S.C. § 1291

Sara Porter Walsh

Petitioner,' an applicant for a Federal Communications Commission (FCC) broadcasting license, sought interlocutory review of a Commission order' denying a motion to disqualify the law firm that had represented competitor RKO for thirty years. Petitioner alleged that participation by the firm, which included an attorney who was chairman of the FCC while RKO's application was under consideration, constituted a violation of Canons Five and Nine' of the ABA Code of …

Recent Cases, Samuel E. Stumpf, Jr., M. Carolyn Barefield, Robert S. Reder, Stephen C. Morton, Randolph C. Coley

Vanderbilt Law Review

Noerr-Pennington Immunity for Joint Efforts to Influence Governmental Action - Intent to Cause Competitive Injury, Evidenced by Repeated, Baseless Opposition Before an Adjudicatory Body, Does Not Result in Loss of Noerr-Pennington Immunity Absent Specific Allegations of Conduct External to or Abusive of the Adjutory Processes

Samuel E. Stumpf, Jr.

Constitutional Law - First Amendment - Student's Right to Receive Information Precludes Board's Removal of Allegedly Offensive Books from High School Library

M. Carolyn Barefield

Constitutional Law-Search and Seizure - Federal Courts Are Bound by Federal Wiretapping Statutes and Will Not Exclude Evidence Seized by State Agents in Violation of More …