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Full-Text Articles in Securities Law
Modern Day Bucket Shops? Fantasy Sports And Illegal Exchanges, John T. Holden, Ryan Rodenberg
Modern Day Bucket Shops? Fantasy Sports And Illegal Exchanges, John T. Holden, Ryan Rodenberg
Texas A&M Law Review
The rapid emergence of online daily fantasy sports has raised questions as to why the contests are allowed, while other forms of gambling are restricted. Historically, “bucket shops” were banned enterprises where businesses would effectively accept wagers on whether companies’ stock prices would go up or down. There was never an underlying investment in companies themselves, only a deposit into a “bucket.” While bucket shops have largely faded, we examine whether they have disappeared in name only. Our analysis opens up another avenue for regulators beyond the antiquated skill-versus-chance evaluation typically applied to gambling activities and suggests that certain fantasy …
The Eu’S Struggles With Collective Action For Securities Fraud: An American Perspective, Dan Morrissey
The Eu’S Struggles With Collective Action For Securities Fraud: An American Perspective, Dan Morrissey
Texas A&M Law Review
Notwithstanding the apparent exit of the United Kingdom, the European Union (“EU”) has grown in membership and power since its modest beginnings after World War II, now rivaling the U.S. in economic strength. With the goal of promoting the security and prosperity of all the citizens of the countries that belong to it, the EU is pressing ahead to adopt laws that will promote their political and financial integration. Along those lines, it has also recently acknowledged a deficiency in the legal systems of its member states when it comes to allowing collective actions for victims of various types of …
Unintended Consequences, Loopholes, And Gibberish: Why There Are Still Securities Act Class Actions In State Courts, Brian Elzweig
Unintended Consequences, Loopholes, And Gibberish: Why There Are Still Securities Act Class Actions In State Courts, Brian Elzweig
Texas A&M Law Review
This Article examines Congress’s decades-long attempt to ensure that securities class action lawsuits of national importance are litigated in federal courts. The intent is limiting strike suits. Congress attempted to curtail strike suits through the enactment of the Private Securities Litigation Reform Act (“PSLRA”). The PSLRA required heightened pleading requirements to ensure the validity of federal securities class actions. Instead of solving the dilemma, plaintiffs circumvented the PSLRA by bringing fraud cases as state law claims. To combat the circumvention of the PSLRA, Congress enacted the Securities Litigation Uniform Standards Act (“SLUSA”). SLUSA federally preempted state law claims based on …