Open Access. Powered by Scholars. Published by Universities.®
- Discipline
-
- Securities Law (6)
- Contracts (5)
- Banking and Finance Law (4)
- Business Organizations Law (4)
- Commercial Law (4)
-
- Legislation (4)
- Legal Remedies (3)
- Bankruptcy Law (2)
- Comparative and Foreign Law (2)
- Litigation (2)
- Torts (2)
- Administrative Law (1)
- Agency (1)
- Common Law (1)
- Courts (1)
- Criminal Law (1)
- Education Law (1)
- Law and Economics (1)
- Legal Ethics and Professional Responsibility (1)
- Legal History (1)
- Legal Profession (1)
- Property Law and Real Estate (1)
- Secured Transactions (1)
- State and Local Government Law (1)
- Supreme Court of the United States (1)
- Publication Year
- Publication
Articles 1 - 19 of 19
Full-Text Articles in Law
Working Hard Or Making Work? Plaintiffs' Attorneys Fees In Securities Fraud Class Actions, Stephen J. Choi, Jessica Erickson, A. C. Pritchard
Working Hard Or Making Work? Plaintiffs' Attorneys Fees In Securities Fraud Class Actions, Stephen J. Choi, Jessica Erickson, A. C. Pritchard
Articles
In this article, we study attorney fees awarded in the largest securities class actions: “mega- settlements.” Consistent with prior work, we find larger fee awards but lower percentages in these cases. We also find that courts are more likely to reject or modify fee requests made in connection with the largest settlements. We conjecture that this scrutiny provides an incentive for law firms to bill more hours, not to advance the case, but to help justify large fee awards—“make work.” The results of our empirical tests are consistent with plaintiffs’ attorneys investing more time in litigation against larger companies, with …
Corporate Governance, Capital Markets, And Securities Law, Adam C. Pritchard
Corporate Governance, Capital Markets, And Securities Law, Adam C. Pritchard
Book Chapters
This chapter explores the dividing line between corporate governance and securities law from both historical and institutional perspectives. Section 2 examines the origins of the dividing line between securities law and corporate governance in the United States, as well as the efforts of the SEC to push against that boundary. That history sets the stage for section 3, which broadens the inquiry by examining the institutional connections between capital markets and corporate governance. Are there practical limits to the connection between securities law and corporate governance? The US again illustrates the point, as Congress has increasingly crossed the traditional boundary …
Stoneridge Investment Partners V. Scientific-Atlanta: The Political Economy Of Securities Class Action Reform, Adam C. Pritchard
Stoneridge Investment Partners V. Scientific-Atlanta: The Political Economy Of Securities Class Action Reform, Adam C. Pritchard
Articles
I begin in Part II by explaining the wrong turn that the Court took in Basic. The Basic Court misunderstood the function of the reliance element and its relation to the question of damages. As a result, the securities class action regime established in Basic threatens draconian sanctions with limited deterrent benefit. Part III then summarizes the cases leading up to Stoneridge and analyzes the Court's reasoning in that case. In Stoneridge, like the decisions interpreting the reliance requirement of Rule 10b-5 that came before it, the Court emphasized policy implications. Sometimes policy implications are invoked to broaden the reach …
The Nondischargeability Of Student Loans In Personal Bankruptcy Proceedings: The Search For A Theory, John A. E. Pottow
The Nondischargeability Of Student Loans In Personal Bankruptcy Proceedings: The Search For A Theory, John A. E. Pottow
Articles
In fiscal year 2002, approximately 5.8 million Americans borrowed $38 billion (USD) in federal student loans. This was more than triple the $11.7 billion borrowed in 1990. As a rule of thumb, tuition has been increasing at roughly double the rate of inflation in recent years. This troubling trend of accelerating tuition, coupled with the fact that real income has stagnated for men and increased only modestly for women over the past two decades, means that more and more students are going to need to turn to borrowed money to finance their degrees absent a radical restructuring of the postsecondary …
The Maxwell Case, John A. E. Pottow
The Maxwell Case, John A. E. Pottow
Book Chapters
This chapter will provide some broader context regarding the famous Maxwell Communication bankruptcy, which is one of the most significant cross-border insolvency precedents to date.1 It does so by first looking at Bob Maxwell's life and business in roughly chronological stages (the good, the bad, and the ugly). It then explores the insolvency proceedings that bear his name (the beautiful) and one specific litigation action within those proceedings of particular importance (the exquisite). Finally, it offers some brief reflection on what the Maxwell case may have taught us (the sublime).
The Investor Compensation Fund, Alicia J. Davis
The Investor Compensation Fund, Alicia J. Davis
Articles
The prevailing view among securities regulation scholars is that compensating victims of secondary market securities fraud is inefficient. As the theory goes, diversified investors are as likely to be on the gaining side of a transaction tainted by fraud as the losing side. Therefore, such investors should have no expected net losses from fraud because their expected losses will be matched by expected gains. This Article argues that this view is flawed; even diversified investors can suffer substantial losses from fraud, presenting a compelling case for compensation. The interest in compensation, however, should be advanced by better means than are …
Conclusion: 'If You Don't Pull Up . . .'., James J. White
Conclusion: 'If You Don't Pull Up . . .'., James J. White
Other Publications
Today I am going to talk about a lawyer duty that is just as important as the duty to exercise warm zeal on behalf of a client, but it is a duty that is unknown to the popular culture and rarely touched on in law school. That is the duty to say no to your client, to step in front of a client who is determined to do something stupid, or in violation of the civil or criminal law.
Should Congress Repeal Securities Class Action Reform?, Adam C. Pritchard
Should Congress Repeal Securities Class Action Reform?, Adam C. Pritchard
Other Publications
The Private Securities Litigation Reform Act of 1995 was designed to curtail class action lawsuits by the plaintiffs’ bar. In particular, the high-technology industry, accountants, and investment bankers thought that they had been unjustly victimized by class action lawsuits based on little more than declines in a company’s stock price. Prior to 1995, the plaintiffs’ bar had free rein to use the discovery process to troll for evidence to support its claims. Moreover, the high costs of litigation were a powerful weapon with which to coerce companies to settle claims. The plaintiffs’ bar and its allies in Congress have called …
Self-Regulation And Securities Markets, Adam C. Pritchard
Self-Regulation And Securities Markets, Adam C. Pritchard
Articles
Enron, Arthur Andersen, Tyco, ImClone, WorldCom, Adelphia - as American investors reel from accounting scandals and self-dealing by corporate insiders, the question of trust in the securities markets has taken on a new urgency. Securities markets cannot operate without trust. Markets known for fraud, insider trading, and manipulation risk a downward spiral as investors depart in search of safer investments. Today, many investors are rethinking the wisdom of entrusting their financial futures to the stock market. Absent trust in the integrity of the securities markets, individuals will hoard their money under the proverbial mattress.
Article 5 - Recent Developments, James J. White
Article 5 - Recent Developments, James J. White
Other Publications
I. Mitigation in Letter of Credit Transactions Assume a Buyer has procured a letter of credit to pay for contracted goods but no longer wants the goods. The Buyer and the Issuer would like to force the Beneficiary to mitigate. Assume that both the Issuer and Applicant repudiate their obligation or that the Applicant has failed and the Issuer repudiates its obligation to pay under the letter of credit. At the moment of repudiation the price for a gallon of the underlying oil that is the subject of the letter of credit is $.75 and that the letter of credit …
Letters Of Credit: Highlights Of Revised Article 5, Edwin E. Smith, James J. White
Letters Of Credit: Highlights Of Revised Article 5, Edwin E. Smith, James J. White
Other Publications
1. Under what circumstances is it bad faith for an issuer to honor a letter of credit in the face of an applicant's offer of proof of fraud by the beneficiary? 2. What is the issuer's obligation where there is a waiver by the applicant that the issue chooses not to honor? 3. What are the rights of transferees of transferable letters of credit and assigness of proceeds?
Article 5: Highlights Of The Proposed Revision, James J. White
Article 5: Highlights Of The Proposed Revision, James J. White
Other Publications
I. The Current Status of Article 5: Drafting, Approval and Promulgation--The Most Significant Changes or Clarifications -- II. The Most Contentious Issues in the Revision of Article 5 -- III. More Subtle Questions About Revised Article 5
Goldstein's Curse, James J. White
Goldstein's Curse, James J. White
Articles
ON April 16, 1980, a man using the name Marvin Goldstein opened a bank account at a Baltimore branch of Union Trust Company. He deposited $15,000 in cash. He told the branch manager that he planned to establish a Baltimore office of his father's New York business, "Goldstein's Precious Metals and Stones." Goldstein identified himself with a New Jersey driver's license and gave a bank reference from New York. On May 6, Goldstein deposited a check for $880,000 at another Union Trust branch near the branch where he had opened the account. Words on this check indicated that it was …
Effectiveness Of Oral Contracts, Within The Statute Of Frauds, John B. Waite
Effectiveness Of Oral Contracts, Within The Statute Of Frauds, John B. Waite
Articles
In Morris v. Baron and Co., (House of Lords, 1917), 87 L. J. R. (K. B.) 145, plaintiff and defendant had entered into a contract of sale and plaintiff, as vendor, had delivered part of the goods agreed upon. Delivery of the remainder would have been a condition precedent to any recovery by the plaintiff. This contract, however, was followed by a second one, not in writing, whereby plaintiff was absolved from delivering the rest of the goods, but by which he agreed that he would deliver them if the defendant should so request. Thereafter plaintiff brought this action for …
The Way Of The Tansgressor Is Easy, John R. Rood
The Way Of The Tansgressor Is Easy, John R. Rood
Articles
The Way of the Transgressor is Easy, if he is shrewd enough to take an immunity bath, or avail himself of any of a dozen other provisions of the law made with good intentions and left lying about loose enough to be misappropriated. One rule that has served him many a good turn, is that there is no contribution between tort-feasors. Another way of stating it is that the courts are not open to help rogues out of the predicaments into which their dishonest dealings placed them, and the counterpart of the doctrine in equity is that he who comes …
Ratification By An Undisclosed Principal, Edwin C. Goddard
Ratification By An Undisclosed Principal, Edwin C. Goddard
Articles
Omnis ratihabitio retrotrahitur, et mandato priori aequiparatur. Every ratification relates back, and is equivalent to a prior authority, is the second great maxim of agency, and has been said to be as well established and as simple of application as the first and fundamental one, qui facit per alium, facit per se. It was as well recognized in the Roman law, as it is in the common law. Whether the maxim ratihabitio mandato comparatur of the Roman lawyers and the early English cases is identical in meaning with the dogma ratihabitio mandato acquiparatur of Lord Coke, and of all English …
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Articles
In a former article (May number JOURNAL) fraud in contemplation of law, or legal fraud was considered. It was contended that a false representation, though honestly made and believed to be true, afforded sufficient ground to the vendor for rescinding a con- tract of sale. We now propose to briefly consider character of statements made, with some reference also to representations made to commercial agencies. It may be regarded as within the common knowledge of the profession, that the false representation must be the assertion of a fact, and usually of an existing fact, although the fact may depend upon …
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Contracts Of Sale Of Merchandise--Fraud On The Vendor, Levi T. Griffin
Articles
This is an interesting topic to every jobbing house, and to every attorney concerned with mercantile collections. The law is pretty well settled on the general subject and the Treatises on Sales are plentiful. Among the best is that of Mr. Benjamin. Tiffany on Sales of the Hornbrook Series recently issued assumes also to state briefly the principles which control in these cases. At large commercial and metropolitan points, and among lawyers who have occasion to often deal with this question, there is perhaps not much difficulty in arriving at correct conclusions, and promptly enforcing the rights of a defrauded …
The Recording Laws Of The United States, Thomas M. Cooley
The Recording Laws Of The United States, Thomas M. Cooley
Articles
Of the securities,provided by law for the protection of property, perhaps none is more important than the registration of land titles. We put aside, very early, the old English notion that the best evidence of title was the possession of the title deeds, and adopted a system which, in theory, proposed to place in a public office, accessible to everyone, a record of the titles to real estate, by which every man might safely buy or safely accept encumbrances. Speaking generally now of the system, the theory seems to be nearly perfect. Every instrument affecting the title to lands must …