Law Commons^™

Three’S A Crowd Or A Charm? Third Party Liability For Participating In Breaches Of Fiduciary Duty, Alison Gurr

San Diego Law Review

Part I of this Article will consider the threshold question noted above: Should third parties be held liable for participating in breaches of fiduciary duty? After establishing that there are justifications for this liability, Part II will explore whether there are other existing causes of action that might address similar concerns and therefore render the introduction of TPLFD unnecessary. Part III will consider how TPLFD should be recognized in states that have not yet adopted this cause of action. It will also argue that the courts, and not the legislature, should introduce TPLFD. Finally, Part IV will set out some …

The Trouble With Investment Banking: Cluelessness, Not Greed, Will Bunting

San Diego Law Review

We assume that the set of marketable financial instruments can be divided into two distinct categories: (1) easy to price and (2) difficult to price, and then isolate two behavioral effects as most important with respect to securities trading in difficult-to-price securities; specifically, the "house money effect" and the "earned money effect." It is shown that these behavioral effects discourage profitable investment in research effort.

We then argue that the Private Securities Litigation Reform Act (PSLRA) safe harbor should not apply to investment banks that issue/underwrite difficult-to-price securities. We also advocate for the return of the private investment banking partnership …

Fixing The Wheel: A Critical Analysis Of The Immigrant Investor Visa, Ronald R. Rose

San Diego Law Review

In 1990, Congress attempted to fill a long-standing void in the United States immigration laws by providing an updated immigrant investor visa codified as section 203(b)(5) of the Immigration and Nationality Act. The old, obsolete immigrant investor visa had only required a $40,000 investment. The new visa generally requires a $1,000,000 investment. The demand for this new higher priced version has, however, been exceedingly low. Although this immigrant investor visa category allows for 10,000 visa issuances per year, only 78 were issued in fiscal 1992 and no more than 500 are expected to be issued in fiscal 1993. This Article …

Federal Common Law And The Need For Uniformity In The Regulation Of Federal Savings And Loan Associations And Federal Credit Unions, Raquel Maria Prieguez

San Diego Law Review

Federal courts have authority to fashion federal common law in a few narrow instances. Through an examination of relevant precedent in the area of federal common law, this Comment identifies essential factors necessary for the fashioning of federal common law where the rights and duties of the United States are involved. It then applies the findings to the issue of whether state or federal law should govern in actions against officers and directors of federal savings and loan associations and federal credit unions for breach of fiduciary duties or breach of bylaws. This Comment also finds that some federal courts …