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Full-Text Articles in Law
Discovery As Regulation, Diego A. Zambrano
Discovery As Regulation, Diego A. Zambrano
Michigan Law Review
This article develops an approach to discovery that is grounded in regulatory theory and administrative subpoena power. The conventional judicial and scholarly view about discovery is that it promotes fair and accurate outcomes and nudges the parties toward settlement. While commonly held, however, this belief is increasingly outdated and suffers from limitations. Among them, it has generated endless controversy about the problem of discovery costs. Indeed, a growing chorus of scholars and courts has offered an avalanche of reforms, from cost shifting and bespoke discovery contracts to outright elimination. Recently, Judge Thomas Hardiman quipped that if he had absolute power, …
Secret Searches: The Sca's Standing Conundrum, Aviv S. Halpern
Secret Searches: The Sca's Standing Conundrum, Aviv S. Halpern
Michigan Law Review
The Stored Communications Act (“SCA”) arms federal law enforcement agencies with the ability to use a special type of warrant to access users’ electronically stored communications. In some circumstances, SCA warrants can require service providers to bundle and produce a user’s electronically stored communications without ever disclosing the existence of the warrant to the individual user until charges are brought. Users that are charged will ultimately receive notice of the search after the fact through their legal proceedings. Users that are never charged, however, may never know that their communications were obtained and searched. This practice effectively makes the provisions …
Carrot Or Stick? The Shift From Voluntary To Mandatory Disclosure Of Risk Factors, Karen K. Nelson, Adam C. Pritchard
Carrot Or Stick? The Shift From Voluntary To Mandatory Disclosure Of Risk Factors, Karen K. Nelson, Adam C. Pritchard
Articles
This study investigates risk factor disclosures, examining both the voluntary, incentive-based disclosure regime provided by the safe harbor provision of the Private Securities Litigation Reform Act as well as the SEC's subsequent mandate of these disclosures. Firms subject to greater litigation risk disclose more risk factors, update the language more from year to year, and use more readable language than firms with lower litigation risk. These differences in the quality of disclosure are pronounced in the voluntary disclosure regime, but converge following the SEC mandate as low-risk firms improved the quality of their risk factor disclosures. Consistent with these findings, …
Opening Schumer’S Box: The Empirical Foundations Of Modern Consumer Finance Disclosure Law, Hosea H. Harvey
Opening Schumer’S Box: The Empirical Foundations Of Modern Consumer Finance Disclosure Law, Hosea H. Harvey
University of Michigan Journal of Law Reform
This Article explores the fundamental failure of Congress’ twenty-five-year quest to utilize disclosure as the primary tool to both regulate credit card issuers and educate consumers. From inception until present, reforms to this disclosure regime, even when premised on judgment and decision-making behavioralism, were nomothetic in orientation and ignored clear differences in population behavior and the heterogeniety of consumers. Current law prohibits credit card issuers from acquiring consumer socio-demographic data and prevents issuers and regulators from using market and policy experimentation to enhance disclosure’s efficacy. To explain why this regime was structured this way and why it must change, this …
The Politics Of Privacy In The Criminal Justice System: Information Disclosure, The Fourth Amendment, And Statutory Law Enforcement Exemptions, Erin Murphy
Michigan Law Review
When criminal justice scholars think of privacy, they think of the Fourth Amendment. But lately its domain has become far less absolute. The United States Code currently contains over twenty separate statutes that restrict both the acquisition and release of covered information. Largely enacted in the latter part of the twentieth century, these statutes address matters vital to modern existence. They control police access to driver's licenses, educational records, health histories, telephone calls, email messages, and even video rentals. They conform to no common template, but rather enlist a variety of procedural tools to serve as safeguards - ranging from …
Revisiting 'Truth In Securities Revisited': Abolishing Ipos And Harnessing Private Markets In The Public Good, Adam C. Pritchard
Revisiting 'Truth In Securities Revisited': Abolishing Ipos And Harnessing Private Markets In The Public Good, Adam C. Pritchard
Articles
My thesis is that the transition between private- and public-company status could be less bumpy if we unify the public-private dividing line under the Securities Act and Exchange Act. The insight builds on Cohen's thought experiment where Congress first enacted the Exchange Act. My proposed public-private standard would take the company-registration model to its logical conclusion. The customary path to public-company status is through an IPO, typically with simultaneous listing of the shares on an exchange. There is nothing about public offerings, however, that makes them inherently antecedent to public-company status. What if companies became public, with required periodic disclosures …
Improving Patent Notice And Remedies: A Critique Of The Ftc's 2011 Report, Alan Devlin
Improving Patent Notice And Remedies: A Critique Of The Ftc's 2011 Report, Alan Devlin
Michigan Telecommunications & Technology Law Review
2011 was an eventful year for those interested in patent law. In March, the Federal Trade Commission ("FTC") released a report that urges the Patent and Trademark Office ("PTO") and courts to remedy perceived inadequacies underlying the U.S. patent system. The FTC observes that people of skill in the art routinely encounter difficulty in determining the meaning, and hence exclusive scope, of a patent's claims. Not only does this failure of notice stymie the efficient dispersion of technology throughout the economy, the FTC argues, but the judicial process can aggravate the problem by granting inappropriate remedies in patent-infringement cases. Then, …
Using Public Disclosure As The Vesting Point For Moral Rights Under The Visual Artists Rights Act, Elizabeth M. Bock
Using Public Disclosure As The Vesting Point For Moral Rights Under The Visual Artists Rights Act, Elizabeth M. Bock
Michigan Law Review
In 2010, the Court of Appeals for the First Circuit confronted the novel question of when moral rights protections vest under the Visual Artists Rights Act. In Massachusetts Museum of Contemporary Art Foundation, Inc. v. Bichel, the First Circuit determined that the protections of the Visual Artists Rights Act begin when a work is "created" under the Copyright Act. This Note argues that this decision harms moral rights conceptually and is likely to result in unpredictable and inconsistent decisions. This Note proposes instead that these statutory protections should vest when an artist determines that his work is complete and presents …
It Is Time: Why The Fda Should Start Disclosing Drug Trial Data, Mustafa Ünlü
It Is Time: Why The Fda Should Start Disclosing Drug Trial Data, Mustafa Ünlü
Michigan Telecommunications & Technology Law Review
Although [drug] manufacturers bear the cost of research data generation, it is oftentimes a worthwhile investment that also confers significant commercial advantages. Consequently, they have argued that research data should be considered a trade secret and kept confidential. The FDA's longstanding position has been to accept this proposition. Even when Congress appeared to mandate disclosure or weaken the underlying rationale for secrecy, the FDA has continued to treat research data as confidential. A strong argument against a default posture of confidentiality is that research data disclosure would promote broad public interests by eliminating the societal costs brought about by keeping …
An Opt-Out Home Mortgage System, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
An Opt-Out Home Mortgage System, Michael S. Barr, Sendhil Mullainathan, Eldar Shafir
Other Publications
The current housing and financial crisis has led to significant congressional and executive action to manage the crisis and stem the harms from it, but the fundamental problems that caused the crisis remain largely unaddressed. The central features of the industrial organization of the mortgage market with its misaligned incentives, and the core psychological and behavioral phenomena that drive household financial decisionmaking remain. While the causes of the mortgage meltdown are myriad and the solutions likely to be multifaceted, a central problem that led to the crisis was that brokers and lenders offered loans that looked much less expensive and …
Confidentiality Of Educational Records And Child Protective Proceedings, Frank E. Vandervort
Confidentiality Of Educational Records And Child Protective Proceedings, Frank E. Vandervort
Book Chapters
The Federal Family Education Rights and Privacy Act (FERPA), which provides funding for state educational programming, requires that student records be disclosed to a nonparent only with the written consent of the child’s parent, unless the disclosure falls within one of the several exceptions detailed in the statute. One of the exemptions provided for in the federal law permits a school to disclose information to “state or local officials or authorities to whom [that] information is allowed to be reported or disclosed pursuant to state statute,” if that official certifies in writing “that the information will not be disclosed to …
The Sec At 70: Time For Retirement?, Adam C. Pritchard
The Sec At 70: Time For Retirement?, Adam C. Pritchard
Articles
The Article proceeds as follows. Part I explains the pathologies of the SEC and explores the relation between those pathologies and the SEC's status as an independent agency. Part II then outlines an alternative regulatory structure primarily situated within the executive branch. I also argue that such a relocation of authority would enhance regulatory effectiveness while simultaneously reducing the cost of excessive regulation. The Article concludes with some thoughts about the viability of my proposal.
Reaching Disclosure, Carl E. Schneider
Reaching Disclosure, Carl E. Schneider
Articles
It is easy to forget but crucial to remember that when lawmakers decide to regulate an activity, they must select a method. The law of bioethics particularly favors one method-requiring disclosure of information. The doctrine of informed consent obliges doctors to tell patients their treatment choices. The administrative law of research ethics insists that researchers warn subjects of the risks of experiments. The Patient Self-Determination Act compels medical institutions to remind patients about advance directives. The federal government's new privacy regulations instruct medical institutions to describe their privacy regime to patients. Not just the law of bioethics, but health law …
Credit Where It Counts: The Community Reinvestment Act And Its Critics, Michael S. Barr
Credit Where It Counts: The Community Reinvestment Act And Its Critics, Michael S. Barr
Articles
Despite the depth and breadth of U.S. credit markets, low- and moderate-income communities and minority borrowers have not historically enjoyed full access to credit. The Community Reinvestment Act (CRA) was enacted in 1977 to help overcome barriers to credit that these groups faced. Scholars have long leveled numerous critiques against CRA as unnecessary, ineffectual, costly, and lawless. Many have argued that CRA should be eliminated. By contrast, I contend that market failures and discrimination justify governmental intervention and that CRA is a reasonable policy response to these problems. Using recent empirical evidence, I demonstrate that over the last decade CRA …
The Sec At 70: Time For Retirement?, Adam C. Pritchard
The Sec At 70: Time For Retirement?, Adam C. Pritchard
Articles
As one grows older, birthdays gradually shift from being celebratory events to more reflective occasions. One's 40th birthday is commemorated rather differently from one's 2lst, which is, in turn, celebrated quite differently from one's first. After a certain point, the individual birthdays become less important and it is the milestone years to whch we pay particular attention. Sadly for entities like the Securities and Exchange Commission, it is only the milestone years (the ones ending in five or zero, for some reason), that draw any attention at all. No one held a conference to celebrate the SEC's 67th anniversary. Clearly …
Fair's Fair: An Argument For Mandatory Disclosure Of Technological Protection Measures, Robert C. Denicola
Fair's Fair: An Argument For Mandatory Disclosure Of Technological Protection Measures, Robert C. Denicola
Michigan Telecommunications & Technology Law Review
Section 1201(a)(1) of the Copyright Act prohibits the act of "circumvent[ing] a technological measure that effectively controls access to a work," including, for example, by-passing password protection or encryption intended to restrict access to paying customers. Section 1201(a)(2) prohibits the manufacture or sale of "any technology, product, service, device, component, or part thereof" primarily designed for the purpose of circumventing access controls on copyrighted works. Additionally, § 1202(b) prohibits the manufacture or sale of products, devices or services primarily designed to circumvent "a technological measure that effectively protects a right of a copyright owner"--for example, a technological measure intended to …
Best Mode: A Plea To Repair Or Sacrifice This Broken Requirement Of United States Patent Law, Steven B. Walmsley
Best Mode: A Plea To Repair Or Sacrifice This Broken Requirement Of United States Patent Law, Steven B. Walmsley
Michigan Telecommunications & Technology Law Review
An inventor's obligation to disclose the best mode of her invention is strong consideration in the U.S. patent bargain, but the courts paradoxically define the scope of that obligation, thus rendering the enforcement of U.S. patents unreasonably unpredictable. If an inventor cannot reasonably foresee the scope of her obligation to disclose invention details, then she is subjected to the costs and risks of either overcompliance or undercompliance with the best mode requirement. The scope of the best mode requirement should either be reliably defined by an en banc ruling of the Court of Appeals for the Federal Circuit, or the …
Electronic Mail And Michigan's Public Disclosure Laws: The Argument For Public Access To Governmental Electronic Mail, Daniel F. Hunter
Electronic Mail And Michigan's Public Disclosure Laws: The Argument For Public Access To Governmental Electronic Mail, Daniel F. Hunter
University of Michigan Journal of Law Reform
This Note explores the potential for citizens to request electronic mail (e-mail) records from government agencies using public disclosure laws, with emphasis on the Michigan Freedom of Information Act (FOIA). E-mail is a medium that has come to replace both telephone calls and paper documents for many purposes. The applicability of public disclosure laws to e-mail, however, is less than clear. Telephone conversations by public employees for most purposes are confidential, while paper records created by those same employees can be requested under the FOIA. Thus, should public e-mail remain private and confidential or should it be subject to FOIA …
The Obsolescence Of Wall Street: A Contextual Approach To The Evolving Structure Of Federal Securities Regulation, Joel Seligman
The Obsolescence Of Wall Street: A Contextual Approach To The Evolving Structure Of Federal Securities Regulation, Joel Seligman
Michigan Law Review
As a matter of analytical style, this article illustrates a contextualist approach. For a considerable period of time, the dominant analytical style in corporate and securities .law has been a variant of economic, or law and economics, analysis. The virtue of this type of analysis is that it focuses on what its authors deem to be crucial variables and reaches conclusions derived from the core of a specific legal problem. The defect of this type of analysis is that so much is assumed or often assumed away.
Furthering The Accountability Principle In Privatized Federal Corrections: The Need For Access To Private Prison Records, Nicole B. Cásarez
Furthering The Accountability Principle In Privatized Federal Corrections: The Need For Access To Private Prison Records, Nicole B. Cásarez
University of Michigan Journal of Law Reform
As American prisons face unprecedented overcrowding, both the federal and various state governments have engaged private entrepreneurs to operate correctional facilities on a for-profit basis. In the federal context, one overlooked consequence of prison privatization involves decreased public access to prison records. When a federal agency delegates a public function, like the provision of correctional services, to a private contractor, the agency frustrates the purpose of the Freedom of Information Act. Prison records that otherwise would have been available to the public become insulated from disclosure by virtue of the contractor's nonagency status. To safeguard prisoners' liberty interests and well-being, …
Collective Bargaining In The Federal Public Sector: Disclosing Employee Names And Addresses Under Exemption 6 Of The Freedom Of Information Act, Trina Jones
Michigan Law Review
This Note examines the application of FOIA and the Privacy Act to union requests for employee names and addresses under the Fed. LM Statute. Part I briefly explores the importance of employee names and addresses to collective bargaining. This Part also examines the increasingly significant role of public sector unions due to the growth in federal public sector employment and the decline of private sector unionization. Part II analyzes the various circuit court decisions supporting disclosure in the federal public sector. Part III examines Reporters Committee and Department of the Treasury and discusses the potential policy implications resulting from the …
Survey Of Registration And Disclosure Requirements In International Securities Markets, Scott D. Cohen
Survey Of Registration And Disclosure Requirements In International Securities Markets, Scott D. Cohen
Michigan Journal of International Law
This survey of the domestic registration and disclosure requirements in the United Kingdom, the Federal Republic of Germany, France, Australia, Switzerland, the Netherlands, Canada, and Japan provides a topical overview of the institutions, requirements, and procedures involved in securities trading in foreign markets. While the goal of a unified international securities regulation system may represent the best long-term course for an efficient world-wide system of capital markets, the necessity to conform to domestic securities regulations will remain important in the coming years.
Threshold Requirements For The Fbi Under Exemption 7 Of The Freedom Of Information Act, Richard A. Kaba
Threshold Requirements For The Fbi Under Exemption 7 Of The Freedom Of Information Act, Richard A. Kaba
Michigan Law Review
This Note examines Exemption 7 of the FOIA as it relates to FBP0 information and seeks to determine the appropriate rule for the first prong of the Abramson test. Part I of this Note examines Exemption 7 in the 1966, 1974, and 1986 FOIAs, the judicial opinions interpreting this exemption, and the legislative histories of the 1966, 1974, and 1986 FOIAs as they relate to Exemption 7. Part II compares the per se and threshold tests in view of their practical effects and concludes that neither test is clearly superior. Part III proposes adoption of a per se rule with …
Disclosure Of Grand Jury Materials Under Clayton Act Section 4f(B), Michigan Law Review
Disclosure Of Grand Jury Materials Under Clayton Act Section 4f(B), Michigan Law Review
Michigan Law Review
This Note analyzes the controversy and concludes that the latter courts are correct: Congress never intended to abrogate or modify rule 6(e)'s "particularized need" standard when it enacted section4F(b). Part I discusses whether Congress intended section 4F(b) to require the Attorney General to disclose grand jury materials to state attorneys general upon request, thereby abrogating rule 6(e)'s explicit prohibition against such disclosure. Part II examines the statutory language and legislative history of section). 4F(b) to determine whether Congress intended section 4F(b) to modify rule 6(e)'s "particularized need" standard. Finally, Part III evaluates the policies affected by liberalized disclosure of grand …
Protection For Trade Secrets Under The Toxic Substances Control Act Of 1976, Paula R. Latovick
Protection For Trade Secrets Under The Toxic Substances Control Act Of 1976, Paula R. Latovick
University of Michigan Journal of Law Reform
This article will examine the protection provided by the Act and the measures the EPA has adopted for implementing the Act's provisions. The approach will be to focus on the different functional areas in which disclosure may take place. Part I examines the scheme for designating information as confidential and the mechanics of the reporting system under TSCA. Part II deals with disclosures of confidential information made while implementing the TSCA. Part III focuses on legal disclosures of information submitted as confidential. Finally, Part IV examines the measures taken within the EPA to guarantee the safety of confidential information, the …
The Right To Financial Privacy Act Of 1978-The Congressional Response To United States V. Miller: A Procedural Right To Challenge Government Access To Financial Records, Nancy M. Kirschner
The Right To Financial Privacy Act Of 1978-The Congressional Response To United States V. Miller: A Procedural Right To Challenge Government Access To Financial Records, Nancy M. Kirschner
University of Michigan Journal of Law Reform
This article will review the factors leading to the Miller decision and the legislative response to that decision. Part I will examine the bank customer's expectation of privacy and the way Miller affects this expectation. Part II will discuss the congressional response to Miller and the competing interests which led to the Right to Financial Privacy Act. The Act itself will be discussed in detail in Part III. Part IV will evaluate the Act, and offer recommendations for reform. The article concludes that the Act, by adopting a purely procedural approach, fails to provide adequate protection to bank customers.
Foreign Bribes And The Securities Acts' Disclosure Requirements, Michigan Law Review
Foreign Bribes And The Securities Acts' Disclosure Requirements, Michigan Law Review
Michigan Law Review
The Securities Act of 1933 and the Securities Exchange Act of 1934 require most major corporations to disclose to investors all material information concerning company operations. Although they were not intended to regulate the conduct of business, these disclosure obligations can have a deterrent effect upon improper corporate activities. The recent revelation that a significant number of corporations have been making bribes and similar payments abroad has created interest in the feasibility of employing the disclosure requirements to curtail this practice. This Note will show that, despite recent pressures for change, the Securities and Exchange Commission has continued to view …
Fighting Conflicts Of Interest In Officialdom: Constitutional And Practical Guidelines For State Financial Disclosure Laws, Michigan Law Review
Fighting Conflicts Of Interest In Officialdom: Constitutional And Practical Guidelines For State Financial Disclosure Laws, Michigan Law Review
Michigan Law Review
This note will examine the individual interests in running for office and in personal financial privacy in order to determine what level of scrutiny should be applied to disclosure statutes. After concluding that only minimal scrutiny should apply--a standard certainly met by the state's strong interests--it will be argued that nonconstitutional considerations bearing on the practicality of disclosure statutes nevertheless require a careful balancing of the state interest in disclosure against the individual interests of each class of persons affected by the statutes. The discussion of the strength of the state's interest in disclosure with respect to each class will …
Scope Of Disclosure Of Internal Revenue Communications And Information Files Under The Freedom Of Information Act, Peter R. Spanos
Scope Of Disclosure Of Internal Revenue Communications And Information Files Under The Freedom Of Information Act, Peter R. Spanos
University of Michigan Journal of Law Reform
This article will discuss the proper scope of disclosure under the Freedom of Information Act of the files and administrative and policy materials of the IRS, with particular attention to the following currently contested issues: (1) the extent to which IRS guideline documents and private letter rulings are subject to disclosure; (2) the proper scope of the FOIA exemption for "interagency or intra-agency memorandums or letters which would not be available by law to a party other than an agency in litigation with the agency" as applied to the IRS; and (3) the scope of the exemption for "investigatory records …
To Tell The Truth, The Whole Truth, And Nothing But The Truth - Help For Florida's Frazzled Condominium Buyers?, Elizabeth Snider
To Tell The Truth, The Whole Truth, And Nothing But The Truth - Help For Florida's Frazzled Condominium Buyers?, Elizabeth Snider
University of Michigan Journal of Law Reform
The condominium has become an increasingly familiar arrangement in the United States. In 1972, some 235,000 condominium units were built; this number swelled to about 420,000 in 1973, an increase of almost 79 percent. Accompanying this tremendous increase in building and selling has been an increasing awareness of the need for regulation of this multi-million dollar industry. This note explores the legislative background of condominium regulation; examines the recent Florida Condominium Act amendments, focusing on the Act's disclosure requirements, what they mean, and what their impact will be on developers and purchasers; and offers alternatives to the Florida scheme.