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Full-Text Articles in Securities Law

The Securities Law Disclosure Conundrum For Publicly Traded Litigation Finance Companies, Robert F. Weber Apr 2023

The Securities Law Disclosure Conundrum For Publicly Traded Litigation Finance Companies, Robert F. Weber

University of Michigan Journal of Law Reform

The Article examines a peculiar legal dilemma—implicating securities law, legal ethics, and evidence law—that arises when litigation finance companies (LFCs) become public companies. LFCs provide funding to litigants and law firms for prosecuting lawsuits in exchange for a share of the lawsuit recoveries. In recent years, LFCs have significantly altered the landscape of the civil justice system in common law jurisdictions. But their assets, which are just rights to proceeds from lawsuits, are notoriously opaque— who really can predict what a jury will do when it comes to liability and damages? When LFCs go public, this opacity frustrates public investors’ …


Private Equity Firms: Beyond Sec Registration As An Investment Adviser How To Build And Administer An Effective Compliance Program, Susan Mosher Jan 2012

Private Equity Firms: Beyond Sec Registration As An Investment Adviser How To Build And Administer An Effective Compliance Program, Susan Mosher

Michigan Business & Entrepreneurial Law Review

The Securities and Exchange Commission (the “SEC” or the “Commission”) recently adopted new rules and rule amendments under the Investment Advisers Act of 1940 (the “Advisers Act”) that serve to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”).1 The new rules and rule amendments under the Advisers Act relate to provisions of Title IV of the Dodd-Frank Act (the Private Fund Investment Advisers Registration Act of 2010) that, among other things, require certain private fund advisers and private equity firms to register with the Commission.2 This article is intended to assist firms that …


Conscripting Attorneys To Battle Corporate Fraud Without Shields Or Armor? Reconsidering Retaliatory Discharge In Light Of Sarbanes-Oxley, Kim T. Vu Oct 2006

Conscripting Attorneys To Battle Corporate Fraud Without Shields Or Armor? Reconsidering Retaliatory Discharge In Light Of Sarbanes-Oxley, Kim T. Vu

Michigan Law Review

This Note advocates that federal courts should allow attorneys to bring retaliatory discharge claims under SOX. Traditional rationales prohibiting the claims of retaliatory discharge by attorneys do not apply in the context of Sarbanes-Oxley. This Note contends that the Department of Labor and the federal courts should interpret the whistleblower provisions of § 806 as protecting attorneys who report under § 307. Assuring reporting attorneys that they have protection from retaliation will encourage them to whistleblow and thereby advance SOX's policy goal of ferreting out corporate fraud. Part I explores the legal landscape of retaliatory discharge suits by attorneys. This …


Sec Disciplinary Proceedings Against Attorneys Under Rule 2 ( E ), Michigan Law Review May 1981

Sec Disciplinary Proceedings Against Attorneys Under Rule 2 ( E ), Michigan Law Review

Michigan Law Review

This Note reassesses SEC authority to discipline attorneys under rule 2( e ). Part I explores the history of rule 2( e) proceedings against attorneys and the troublesome policy issues raised by the SEC's new approach to rule 2(e) enforcement. Part II examines the SEC's claim that general rulemaking provisions give it authority to discipline attorneys. The Note concludes that a proper construction of statutes and case law bars rule 2( e) proceedings against attorneys.


Current Problems In Securities Regulation, Robert N. Dorosin, Ira J. Jaffe, Rolfe A. Worden, James C. Lockwood, Willoughby C. Johnson Feb 1964

Current Problems In Securities Regulation, Robert N. Dorosin, Ira J. Jaffe, Rolfe A. Worden, James C. Lockwood, Willoughby C. Johnson

Michigan Law Review

This comment analyzes four areas of central significance to adequate protection for the investor: (1) qualifications of those in the securities industry who deal with the public; (2) dissemination of corporate publicity; (3) dissemination of investment advice; and (4) selling practices in the securities industry. The findings and recommendations of the Special Study are given special attention insofar as they bear upon the problems covered. In certain areas, however, recent developments in court and Commission decisions have brought about changes equally as significant as the findings and recommendations of the Special Study. Thus each section covers the background and recent …


Note And Comment, Horace L. Wilgus, Thomas V. Williams, Fabian B. Dodds, Hugo Sonnenschein Apr 1907

Note And Comment, Horace L. Wilgus, Thomas V. Williams, Fabian B. Dodds, Hugo Sonnenschein

Michigan Law Review

Wilgus: Payment of Dividends Out of Capital of Corporations and the Nature of Treasury Stock; Wilgus: Duty of a Managing Director of a Corporation to an Individual Shareholder; Williams: Impairing Obligation of Contract with Foreign Corporations; Dodds: May a Legislature Pass an Act Allowing Actual Expenses to Circuit Judges Whose Salaries are Fixed by the State Constitution?; Sonnenschein: What Constitutes a Waiver by Implication of the Privilege of Confidential Communications Between Attorney and Client


Recent Important Decisions, Michigan Law Review Feb 1905

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Attachment--alliams Writ--Collateral Attack; Attorneys--disbarment--Malfeasance in Office; Chattel Mortgages--Liability of Mortgagee for Selling More Property than Enough to Satisfy Debt; Conflict of Laws--Comity--Extraterritorial Effect of Laws; Constitutional Law--due Process of Law--Restraint of Insane Persons--Habeas Corpus; Constitutional Law--Eight-Hour Haw--Public contracts; Contempt--Libel of Court; Contract--Construction--Damages; Corporations--Fraud of Directors--Rights of Stockholders; Criminal Law--Habeas Corpus--Waver of Objections as to the Legality of Trial Court; Criminal Procedure--Bill of Exceptions--Presumption as to Evidence; Deeds--In Consideration of Support--Condition Subsequent--Charge Upon Land; Divorce--Alimony--Payment After Husband's Death; Elections--Conduct of Special Elections--Preparation of Ballots; Evidence--constitutional Law--Privilege--Witness; Evidence--Presumption--Suicide; Garnishment--Interests in Expectancy; Husband and Wife--Conveyance to Avoid Taxation--Trusts; Injunction--Parties--Contempt; Insurance, Fire--"Iron Safe" Clause--Waiver; …


Recent Important Decisions, Michigan Law Review May 1904

Recent Important Decisions, Michigan Law Review

Michigan Law Review

Administrator--Appointment of, on Disappearance of Person; Agency--collection of Notes--Possession of the Instrument--Apparent Authority; Appeal--Right to Appeal After Satisfaction of Judgment; Attorney and Client--divorce Cases--contingent Fees--Prevention of Reconciliation; Attorneys--disbarment--Attacking Honesty of Judge; Bankruptcy--city Taxes--Priority; Carriers--Death by Wrongful Act--Stipulations Avoiding Liability for Negligence Toward free Passenger--Validity and Effect; Carriers--signed Ticket not the Contract; Constitutional Law--Class Legislation--Use of Flag for Advertising Purposes; Constitutional Law--Jurisdiction of Equity to Try Title to Office--Injunction; Contract--Validity--Conditions Attached to Goods--Purchase by Retail Trader from Wholesale Trader with Notice; corporations--forfeiture of Charter--Mandamus; Corporations--Garnishment of Stockholder for Unpaid Subscription; Criminal Law--Self-Defense; Deeds--Delivery--Testamentary Disposition; Ejectment--Description--Verdict--Judgment; Ejectment--Equitable Title in Plaintiff; Evidence--Admissions--Abandoned Pleadings; …