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Articles 1 - 2 of 2
Full-Text Articles in Securities Law
Semerenko V. Cendant Corp.: The Third Circuit Clarifies The Securities Exchange Commission's Rule 10b-5 In The Context Of Public Misrepresentations, Anna Mae Maloney
Semerenko V. Cendant Corp.: The Third Circuit Clarifies The Securities Exchange Commission's Rule 10b-5 In The Context Of Public Misrepresentations, Anna Mae Maloney
Villanova Law Review
No abstract provided.
Statutes With Multiple Personality Disorders: The Value Of Ambiguity In Statutory Design And Interpretation, Joseph A. Grundfest, Adam C. Pritchard
Statutes With Multiple Personality Disorders: The Value Of Ambiguity In Statutory Design And Interpretation, Joseph A. Grundfest, Adam C. Pritchard
Articles
Ambiguity serves a legislative purpose. When legislators perceive a need to compromise they can, among other strategies, "obscur[e] the particular meaning of a statute, allowing different legislators to read the obscured provisions the way they wish." Legislative ambiguity reaches its peak when a statute is so elegantly crafted that it credibly supports multiple inconsistent interpretations by legislators and judges. Legislators with opposing views can then claim that they have prevailed in the legislative arena, and, as long as courts continue to issue conflicting interpretations, these competing claims of legislative victory remain credible. Formal legal doctrine, in contrast, frames legislative ambiguity …