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Full-Text Articles in Law
The Responsibilities Of Lawyers For Their Clients Misstatements And Omissions To The Securities Market In Singapore, Wai Yee Wan
The Responsibilities Of Lawyers For Their Clients Misstatements And Omissions To The Securities Market In Singapore, Wai Yee Wan
Research Collection Yong Pung How School Of Law
This article examines the extent to which lawyers advising on the disclosure documents of their clients issued to the securities markets should be responsible for their clients’ disclosure failures. It identifies the following problems with the current framework. First, there is a lack of objective due diligence standards which lawyers are expected to meet when they are advising on public disclosure documents. Second, except for takeovers, lawyers are not subject to public enforcement actions even if they have not acted with due care and diligence in ensuring that their clients comply with their disclosure obligations. Third, private enforcement actions against …
Better Bounty Hunting, Amanda Rose
Better Bounty Hunting, Amanda Rose
Vanderbilt Law School Faculty Publications
The SEC’s new whistleblower bounty program has provoked significant controversy. That controversy has centered on the failure of the implementing rules to make internal reporting through corporate compliance departments a prerequisite to recovery. This Article approaches the new program with a broader lens, examining its impact on the longstanding debate over fraud-on-the-market (FOTM) class actions. The Article demonstrates how the bounty program, if successful, will replicate the fraud deterrence benefits of FOTM class actions while simultaneously increasing the costs of such suits — rendering them a pointless yet expensive redundancy. If instead the SEC proves incapable of effectively administering the …
Around The World Of Securities Fraud In Eighty Motions To Dismiss, Wendy Gerwick Couture
Around The World Of Securities Fraud In Eighty Motions To Dismiss, Wendy Gerwick Couture
Articles
No abstract provided.
The Collision Between The First Amendment And Securities Fraud, Wendy Gerwick Couture
The Collision Between The First Amendment And Securities Fraud, Wendy Gerwick Couture
Articles
This Article seeks to correct the imbalance that occurs when the First Amendment and securities fraud collide. Under current precedent, securities analysts, credit rating agencies, and financial journalists are subject to differing liability standards depending on whether they are sued for defamation or for securities fraud. Under New York Times Co. v. Sullivan, First Amendment protections apply in the defamation context in order to prevent the chilling of valuable speech, yet courts have declined to extend these protections to the securities fraud context. This imbalance threatens to chill valuable speech about public companies. To prevent the dangerous chilling effect of …