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Full-Text Articles in Business
Locked In: The Competitive Disadvantage Of Citizen Shareholders, Anne M. Tucker
Locked In: The Competitive Disadvantage Of Citizen Shareholders, Anne M. Tucker
Faculty Publications By Year
In this Essay, I challenge the conventional corporate law wisdom that unhappy mutual fund investors paying high fees don’t need litigation or regulation to protect their interests because they should simply exit a fund and reinvest elsewhere. The exit solution, advanced by Professors John Morley and Quinn Curtis in Taking Exit Rights Seriously provided an elegantly simply solution to the problem of unhappy indirect investors (e.g., mutual fund investors) given that they are often low-dollar, low-incentive, rationally-apathetic investors facing enormous information asymmetries and collective action problems. According to their view, competition produced by exit, or the threat of exit, is …
Gaming The System: The Exemption Of Professional Sports Teams From The Fair Labor Standards Act, Charlotte S. Alexander, Nathaniel Grow
Gaming The System: The Exemption Of Professional Sports Teams From The Fair Labor Standards Act, Charlotte S. Alexander, Nathaniel Grow
Faculty Publications By Year
This article examines a little known exemption to the Fair Labor Standards Act relieving seasonal recreational or amusement employers from their obligation to pay the minimum wage and overtime. After evaluating the existing, confused case law surrounding the exemption, we propose a new, simplified framework for applying the provision. We then apply this framework to a recent wave of FLSA lawsuits brought by cheerleaders, minor league baseball players, and stadium workers against professional sports teams. The article concludes by considering the policy implications of exempting this class of employers from the FLSA's wage and hour requirements.