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Conflicting Ideologies Of Group Litigation: Who May Challenge Settlements In Class Actions And Derivative Suits?, Susanna Ripken
Conflicting Ideologies Of Group Litigation: Who May Challenge Settlements In Class Actions And Derivative Suits?, Susanna Ripken
Susanna K. Ripken
The article discusses the rights of unnamed class members in class actions and shareholders in corporate derivative suits to appeal court orders approving the settlement of their claims. As representative actions, class actions and derivative suits by definition necessarily determine the rights and duties of absent parties. Unnamed class members and shareholders must rely on the named plaintiff representative to protect their interests, especially when the case is settled prior to a judgment on the merits. The federal courts are sharply divided over the question whether absent parties who are dissatisfied with the class action or derivative suit settlement may …
Initial Cash/Asset Ratio And Asset Prices: An Experimental Study, Vernon Smith, Gunduz Caginalp, David Porter
Initial Cash/Asset Ratio And Asset Prices: An Experimental Study, Vernon Smith, Gunduz Caginalp, David Porter
Vernon L. Smith
A series of experiments, in which nine participants trade an asset over 15 periods, test the hypothesis that an initial imbalance of asset/cash will influence the trading price over an extended time. Participants know at the outset that the asset or "stock" pays a single dividend with fixed expectation value at the end of the 15th period. In experiments with a greater total value of cash at the start, the mean prices during the trading periods are higher, compared to those with greater amount of asset, with a high degree of statistical significance. The difference is most significant at the …