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The Best Of Times, The Worst Of Times: Securities Regulation Scholarship And Teaching In The Global Financial Crisis, Joan Macleod Heminway

Journal of Business & Technology Law

No abstract provided.

The Voices Of Victims: Debating The Appropriate Role Of Fraud Victim Allocution Under The Crime Victims' Rights Act, Julie Kaster

Minnesota Law Review, Vols. 1-106:1 (1917-2021)

No abstract provided.

India's Corporate Governance Voluntary Guidelines 2009: Rhetoric Or Reality, Umakanth Varottil

National Law School of India Review

In the aftermath of recent episodes (such as the accounting fraud at Satyam) that have tested the efficacy of corporate governance norms in India, the Government has adopted a cautious approach to reforms with a view to avoiding a knee-jerk reaction. Change to existing norms has come forth in the form of the Corporate Governance Voluntary Guidelines, 2009 [hereinafter "the Guidelines"], a set of good practices that may be voluntarily adopted by Companies. This article examines, primarily on two counts, the response of the Government of india to governance scandals through the issue of the Guidelines. First, it evaluates the …

Federal Law Enforcement In The Home Mortgage Lending Market Enhanced By The "Fraud Enforcement And Recovery Act Of 2009", Nicholas Mccann

Loyola Consumer Law Review

No abstract provided.

State Of Utah V. Larry Bosh And D. Shawn Benson : Addendum To Appellee's Brief, Utah Court Of Appeals

Utah Court of Appeals Briefs (2007– 2019)

AN INTERLOCUTORY APPEAL FROM AN ORDER GRANTING INTERVENOR/APPELLEE'S INTERVENTION INTO A PRESERVATION OF ASSETS ACTION BROUGHT BY PLAINTIFF/APPELLANT PURSUANT TO § 77-38a-601, UTAH CODE ANNOTATED 2010, IN THE FOURTH JUDICIAL DISTRICT OF UTAH, UTAH COUNTY, THE HONORABLE FRED D. HOWARD PRESUMING.

Saying What They Mean: The False Claims Act Amendments In The Wake Of Allison Engine, Jeremy E. Gersh

Journal of Business & Technology Law

No abstract provided.

Mapping The American Shareholder Litigation Experience: A Survey Of Empirical Studies Of The Enforcement Of The U.S. Securities Law, James D. Cox, Randall S. Thomas

Faculty Scholarship

In this paper, we provide an overview of the most significant empirical research that has been conducted in recent years on the public and private enforcement of the federal securities laws. The existing studies of the U.S. enforcement system provide a rich tapestry for assessing the value of enforcement, both private and public, as well as market penalties for fraudulent financial reporting practices. The relevance of the U.S. experience is made broader by the introduction through the PSLRA in late 1995 of new procedures for the conduct of private suits and the numerous efforts to evaluate the effects of those …

Essays On Corporate Governance, Tih Koon Tan

Electronic Theses and Dissertations

This dissertation is composed by two essays that explore corporate governance issues in S&P firms. The first essay examines changes in corporate governance after a firm gets added to the S&P 500 index? Using firms added from 1994 to 2007, this paper examines how governance mechanisms change for these firms. Specifically, I look at both the overall governance and details on how each mechanism changes. I find that governance improves after being added to the index. Controlling for firm size, leverage, prior firm performance, and growth opportunities, the market reacts positively to governance improvements as a whole. In addition, changes …

Hedge Fund Fraud And The Public Good, Lydie N.C. Pierre-Louis

Fordham Journal of Corporate & Financial Law

The current financial crisis resonates with every American, regardless of their connection to the securities markets. Many struggle to understand how and why the American financial and securities markets collapsed last year. In essence, why did the regulators fail to prevent the collapse? Government officials continue to analyze the relationship between the structural collapse of the markets and regulators' limited jurisdiction over a class of entities whose transactions substantially impact the markets: hedge funds. Congress can no longer deny hedge funds' detrimental impact on the financial and securities markets. The impetus for financial re-regulation has arrived. It is incumbent upon …

The Correlation Between Financial Fraud And Economic Downturn, Karen Alyse Hyink

Theses

Throughout the 20th century, researchers studied financial fraud in order to better understand the factors, motives and environments that increase the occurrences of fraud. By studying these historical trends, modern governmental agencies and public organizations are able to more effectively detect and prevent financial fraud.

Economic climate directly influences the occurrence of fraud; specifically, it is during periods of economic downturn when organizations are more vulnerable to fraudulent attacks. While it has always been assumed that recessionary periods lead to an increase in fraudulent activities, the direct correlation between the two has been greatly understudied by researchers. This thesis is …

Resolving The Continuing Controversy Regarding Confidential Informants In Private Securities Fraud Litigation., Michael J. Kaufman

Faculty Publications & Other Works

No abstract provided.

The Unjustified Judicial Creation Of Class Certification Merits Trials In Securities Fraud Actions, Michael J. Kaufman

Faculty Publications & Other Works

No abstract provided.

Lessons Learned From The Lehman Bankruptcy, Kimberly Summe

Documents

This document is a chapter out of the "Ending Government Bailouts As We Know Them", which highlights the perils of relying bailouts to bring about financial stability and offers other solutions to obtain that overarching objective.

Debtor Counsel's Fiduciary Duty: Is There A Duty To Rat In Chapter 11?, Nancy B. Rapoport, C. R. Bowles

Scholarly Works

This article discusses what duties counsel to the debtor-in-possession owe (and to whom they owe these duties) when the debtor-in-possession wants to do something illegal or just plain dumb.

Privacy And Counter-Terrorism: The Pervasiveness Of Data, Paul Rosenzweig

Case Western Reserve Journal of International Law

No abstract provided.

Madoff Ponzi Scheme Exposes "The Myth Of The Sophisticated Investor", Felicia Smith

University of Baltimore Law Review

On June 29,2009, Bernard L. Madoff was sentenced to 150 years in a federal penitentiary for his role in a multinational Ponzi scheme of historic proportions — some $64.8 billion (which included estimated gains from apparently bogus investment returns). The criminal charges against Madoff included securities fraud, investment adviser fraud, international and domestic money laundering, and perjury.

Many of Madoff's investors were regarded as sophisticated investors. Since its adoption in 1933, the Securities Act affords an exemption from the registration requirements for issuers who offer securities to sophisticated investors because these investors have the resources and financial expertise to obtain …

Testimony Before The Financial Crisis Inquiry Commission, Miami, Florida September 21, 2010, William K. Black

Faculty Works

"Control frauds" are seemingly legitimate entities controlled by persons that use them as a fraud "weapon." (The person that controls the firm is typically the CEO, so that term is used in this testimony.) A single control fraud can cause greater losses than all other forms of property crime combined. Neo-classical economic theory, methodology, and praxis combine to optimize criminogenic environments that hyper-inflate financial bubbles and produce recurrent, intensifying financial crises. A criminogenic environment is one that creates such perverse incentives that it leads to widespread crime. Financial control frauds’ "weapon of choice" is accounting. Neoclassical theory, which dominates law …

How Trust Is Abused In Free Markets: Enron’S 'Crooked 'E’', William K. Black

Faculty Works

A market can have a lemon's problem when one party to the transaction has far superior information to the other and defects are not obvious. The classic bad car, the "lemon" led to the name for this theory. A lemon's market is inefficient. Both consumers and reputable sellers of high quality goods are harmed by the consumer's inability to distinguish superior goods. Frauds, who sell poor quality goods by misrepresenting quality are the only winners. Markets beset by lemon's problems may be improved by government intervention, which can aid both consumers and honest sellers.

In his article "How Trust is …

State Of Utah V. Larry Bosh, And D. Shawn Benson : Brief Of Appellee, Utah Court Of Appeals

Utah Court of Appeals Briefs (2007– 2019)

AN INTERLOCUTORY APPEAL FROM AN ORDER GRANTING INTERVENOR/APPELLEE'S INTERVENTION INTO A PRESERVATION OF ASSETS ACTION BROUGHT BY PLAINTIFF/APPELLANT PURSUANT TO § 77-38a-601, UTAH CODE ANNOTATED 2010, IN THE FOURTH JUDICIAL DISTRICT OF UTAH, UTAH COUNTY, THE HONORABLE FRED D. HOWARD PRESIDING.

A View From Inside The Ropes: A Prosecutor's Viewpoint On Disclosing Exculpatory Evidence, Fred Klein

Hofstra Law Review

No abstract provided.

Article Iii By Default: Constitutional Requirements For The Capital Prosecution Of Unprivileged Enemy Belligerents, Brian C. Mccomas

University of San Francisco Law Review

In light of President Obama’s and Attorney General Eric Holder Jr.’s monumental decision, this Comment explores the constitutional requirements for the capital prosecution of unprivileged enemy belligerents accused of committing or aiding hostilities against America. This Comment argues that, by default and largely thanks to false starts on behalf of the Bush Administration, courts-martial proceedings and military commissions cannot procure a constitutionally sound capital conviction of a detainee in the War on Terror.

Multispace & Multistructure. Neutrosophic Transdisciplinarity (100 Collected Papers Of Sciences), Vol. Iv, Florentin Smarandache

Branch Mathematics and Statistics Faculty and Staff Publications

The fourth volume, in my book series of “Collected Papers”, includes 100 published and unpublished articles, notes, (preliminary) drafts containing just ideas to be further investigated, scientific souvenirs, scientific blogs, project proposals, small experiments, solved and unsolved problems and conjectures, updated or alternative versions of previous papers, short or long humanistic essays, letters to the editors - all collected in the previous three decades (1980-2010) – but most of them are from the last decade (2000-2010), some of them being lost and found, yet others are extended, diversified, improved versions. This is an eclectic tome of 800 pages with papers …

Introduction: The Market Meltdown Of 2008 And The Future Of Financial Reregulation [Article], Faith Stevelman

Articles & Chapters

No abstract provided.

Fraud, Fools, And Phishing: Mail Fraud And The Person Of Ordinary Prudence In The Internet Age, Lauren D. Lunsford

Kentucky Law Journal

No abstract provided.

Not-For-Profit Entities With Conforming Changes As Of March 1, 2010; Audit And Accounting Guide, American Institute Of Certified Public Accountants. Not-For-Profit Organizations Committee

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

An Assessment Of Business Ethics: From The Classroom To The Workplace, Jenna Michelle Azbell

Honors Program Theses

This thesis will begin with an in-depth look at the major corporate scandals of Enron and WorldCom. After that, the thesis will describe the background history of business ethics in America, looking at how capitalism has evolved and shaped our business environment and sometimes influenced the decisions we make. A description of the legislative history involving business ethics will follow, including explanations of how laws such as Civil Rights Act of 1964 affected business ethics policies and practices in the United States, as well as the expansion of business ethics-related statutes including the recent Sarbanes-Oxley legislation that has changed business …

The Evolution Of The Italian And U.S. Bankruptcy Systems: A Comparative Analysis, Paolo Manganelli

Journal of Business & Technology Law

No abstract provided.

Balancing Consumer Privacy With Behavioral Targeting, Dustin D. Berger

Santa Clara High Technology Law Journal

No abstract provided.

Federal Prosecution Of State And Local Officials Using Honest Services Mail Fraud: Where's The Line?, George E.B. Holding, Dennis M. Duffy, John Stuart Bruce

Campbell Law Review

Although there is little dispute that the mail fraud statute has become a valuable part of a federal prosecutor's arsenal, for years legal scholars have debated the extent to which the mail fraud statute should be used to prosecute corrupt state and local officials. In recent years, largely in response to the large number of high profile honest services fraud prosecutions, even members of the mainstream news media are beginning to seek guidance regarding the definition of honest services mail fraud. As noted by Professor George Brown, though the controversy over whether the national government should be responsible for prosecuting …

Lying And Getting Caught: An Empirical Study Of The Effect Of Securities Class Action Settlements On Targeted Firms, James D. Cox, Lynn Bai, Randall S. Thomas

Faculty Scholarship

The ongoing Great Recession has triggered numerous proposals to improve the regulation of financial markets and, most importantly, the regulation of organizations such as credit rating agencies, underwriters, hedge funds, and banks, whose behavior is believed to have caused the credit crisis that spawned the economic collapse. Not surprisingly, some of the reform efforts seek to strengthen the use of private litigation. Private suits have long been championed as a necessary mechanism not only to compensate investors for harms they suffer from financial frauds but also to enhance deterrence of wrongdoing. However, in recent years there has been a chorus …