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Full-Text Articles in Law
On The Role And Regulation Of Proxy Advisors, Paul Rose
On The Role And Regulation Of Proxy Advisors, Paul Rose
Michigan Law Review First Impressions
In anticipation of proxy season-the springtime ritual where companies prepare and deliver proxy statements in preparation for annual shareholder meetings-U.S. public companies typically reexamine their corporate governance structures and policies. Many corporate governance structures that were acceptable ten years ago are now considered outmoded or even evidence of managerial entrenchment. For example, consider the classified board of directors. In recent years, many companies have shifted from a classified board of directors to an annually elected board. A company might adopt an annually-elected board structure for a number of reasons. A classified board can serve as an entrenchment device, for instance, …
Citizens United And The Threat To The Regulatory State, Tamara R. Piety
Citizens United And The Threat To The Regulatory State, Tamara R. Piety
Michigan Law Review First Impressions
Although Citizens United has been roundly criticized for its potential effect on elections and its display of judicial immodesty (or "activism"), the effect of the case which may be both most profound and perhaps most pernicious is its effect on the commercial speech doctrine. This is an aspect of the case which has been largely overlooked. Most people seem to be unaware of any connection between election law and the commercial speech doctrine-except, that is, those who have been working long and hard to accomplish the change it foreshadows. They are keenly aware of its implications.
The Case For Semi-Strong-Form Corporate Scienter In Securities Fraud Actions, Paul B. Maslo
The Case For Semi-Strong-Form Corporate Scienter In Securities Fraud Actions, Paul B. Maslo
Michigan Law Review First Impressions
The mental state of scienter - intent to defraud - is a required element of a securities fraud claim. The scienter inquiry is fairly straightforward when the defendant is an individual. It is more complex when a corporate entity is involved because a corporation can only act through its agents; it has no mind of its own. This article compares the three approaches courts have used to impute scienter to corporate defendants in the securities fraud context and concludes by recommending the approach which strikes an appropriate balance between several dueling public policy concerns.