Law Commons^™

Securities Fraud Damages Under The Pslra, Mohammed A. Misbah

Mohammed A Misbah

The United States Private Securities Litigation Reform Act ("PSLRA") implemented several substantive changes affecting certain cases brought under the federal securities laws. It was designed to reduce the number of “frivolous” securities lawsuits filed in federal courts. Prior to the PSLRA, a securities fraud case could proceed with minimal evidence and use pre-trial discovery to search for more evidence that strongly suggested a deliberate fraud. Under the PSLRA plaintiffs need such evidence simply in order to commence an action. This article seeks to explain what evidence is required of a plaintiff in a security fraud case, in order to defeat …

Optimized Theft: Why Some Controlling Shareholders “Generously” Expropriate From Minority Shareholders, Sang Yop Kang

Sang Yop Kang

Although controlling shareholder agency problems have been well studied so far, many questions still remain unanswered. In particular, an important puzzle in a bad-law jurisdiction is: why some controlling shareholders (“roving controllers”) loot the entire corporate assets at once, and why others (“stationary controllers”) siphon a part of corporate assets on a continuous basis. To solve this conundrum, this Article provides analytical frameworks exploring the behaviors and motivations of controlling shareholders. To begin with, I reinterpret Olson’s political theory of “banditry” in the context of corporate governance in developing countries. Based on a new taxonomy of controlling shareholders (“roving controllers” …

A Critical Appraisal Of The Legal Framework For Mergers And Acquisitions In Nigeria, Oluwaseun Viyon Ojo

Oluwaseun Viyon Ojo

ABSTRACT Mergers and Acquisitions is popularly gaining ground as a corporate option and strategy amongst companies desirous of staying afloat in business, increasing profitability, wanting expansion and complying with regulatory directives .As such, it bears similarly an important status in the Nigerian Company law and, hopefully there exists a legal framework for its regulation under relevant Statutes and regulations within the corporate sector. This research provides a comprehensive analysis of the concept of mergers and acquisitions from the definitional perspective, reasons for and types with reference to the relevant source materials on the concept. The paper will consider the history …

Stiffing The Arbitrators: The Problem Of Nonpayment In Commercial Arbitration, Brian Farkas, Neal M. Eiseman

Brian Farkas

Commercial arbitration is a creature of contract; the parties are there because they choose to be, either including an arbitration clause in their written agreement or, after a dispute developed, electing to avoid litigation all together. Arbitration also comes with an up-front cost non-existent in litigation: the arbitrators. Taxpayers pay for their state and federal judges, but the parties themselves pay for their arbitrators. But what happens if one party refuses (or is otherwise unable) to pay the arbitrator? If the arbitrator then refuses to proceed, as is likely, should the dispute revert to court, in derogation of the prior …

Managing Cyberthreat, Lawrence J. Trautman

Lawrence J. Trautman Sr.

Cyber security is an important strategic and governance issue. However, because most corporate CEOs and directors have no formal engineering or information technology training, it is understandable that their lack of actual cybersecurity knowledge is problematic. Particularly among smaller companies having limited resources, knowledge regarding what their enterprise should actually be doing about cybersecurity can’t be all that good. My goal in this article is to explore the unusually complex subject of cybersecurity in a highly readable manner. First, an examination of recent threats is provided. Next, governmental policy initiatives are discussed. Third, some basic tools that can be used …

Unternehmenskaufvertrag Und Kaeuferschutz Aus Der Italienischen Perspektive, Valerio Sangiovanni

Valerio Sangiovanni

No abstract provided.

Commento All'articolo 2483 Codice Civile, Valerio Sangiovanni

Valerio Sangiovanni

No abstract provided.

Compensation Forfeiture: Stacking Remedies Against Disloyal Agents And Employees, George P. Roach

George P Roach

Compensation Forfeiture:

Stacking Remedies Against Disloyal Agents and Employees

Abstract

Four cases against outlaw CEO’s who defrauded their companies are reviewed to show the major impact that compensation forfeiture contributes to the total package of remedies awarded. The dual goals of remedies for breach of fiduciary duty of compensation and deterrence result in multiple remedies, generally including a remedy at law to compensate and a remedy in equity to disgorge any benefit from the breach. For claims that the fiduciary or agent breached her duty of loyalty, a third remedy of compensation forfeiture can be added or ‘stacked’ on top …

Think Like A Businessperson: Using Business School Cases To Create Strategic Corporate Lawyers, Alicia J. Davis

Alicia Davis

No abstract provided.

The Institutional Appetite For Quack Corporate Governance, Alicia J. Davis

Alicia Davis

This Article offers evidence that higher quality internal corporate governance is associated with higher levels of ownership by institutional investors. This finding is consistent with the idea that institutions have greater reason than individual investors to prefer well-governed firms, but surprising given the substantial empirical evidence that casts doubt on the efficacy of internal governance mechanisms. The study described in this Article also finds that higher quality external governance is associated with lower proportions of ownership by certain types of institutional investors, also a somewhat surprising result given available empirical evidence on the positive relationship between external governance and firm …

Selling Hospice, Sam Halabi

Sam Halabi

Americans are increasingly turning to hospice services to provide them with medical care, pain management, and emotional support at the end of life. The increase in the rates of hospice utilization is explained by a number of factors including a “hospice movement” dating to the 1970s which emphasized hospice as a tool to promote dignity for the terminally ill; coverage of hospice services by Medicare beginning in 1983; and, the market for hospice services provision, sustained almost entirely by governmental reimbursement. On the one hand, the growing acceptance of hospice may be seen as a sign of trends giving substance …

Re-Envisioning Investors’ Anti-Director Rights Index: Theory, Criticism, And Implications, Sang Yop Kang

Sang Yop Kang

‘Law and Finance’ theory – which offers analytical frameworks to measure the protection of public investors and the quality of corporate governance – has dominated the comparative corporate governance scholarship in the last decade. So far, many proponents and critics have had debates on the relevance of the theory and the implications of the theory’s empirical studies. Several important points in relation to shareholder protection, however, have been highly neglected in these debates. In particular, the significance of one-share-one-vote (OSOV) rule has been inappropriately underestimated. In response, this Article explores (1) why OSOV is an utmost critical component in corporate …