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The “Legal” Marijuana Industry's Challenge For Business Entity Law, Luke M. Scheuer Dec 2014

The “Legal” Marijuana Industry's Challenge For Business Entity Law, Luke M. Scheuer

Luke M Scheuer

In recent years many states have legalized the use and sale of marijuana for medical or even recreational purposes. This has led to the booming growth of a “legal” marijuana industry. Businesses openly growing and selling marijuana products to the consuming public are faced with some unusual legal hurdles. Significantly, although the sale of marijuana may be legal at the state level, it is still illegal under federal law. This article explores the conflict between state and federal marijuana laws from a business entity law perspective. For example, managers owe a fiduciary duty of good faith to their businesses and …


Management Buyouts, Efficient Markets, Fair Value And Soft Information, James R. Repetti Oct 1988

Management Buyouts, Efficient Markets, Fair Value And Soft Information, James R. Repetti

James R. Repetti

Leveraged buyouts, particularly by a corporation's management, provide unique opportunities for investors to realize extraordinary profits. In his Article, Professor Repetti examines the potential harm to shareholder interests when management effects a corporate buyout or bailout, and analyzes the effectiveness of current regulatory and common-law protection against that harm. Professor Repetti concludes that the existing regulatory and common law schemes do not adequately protect shareholder interests and proposes as a solution that the Securities and Exchange Commission promulgate rules requiring enhanced disclosure in management buyouts.