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Full-Text Articles in Law
Internal Revenue Service Summonses For "Sensitive"Accountants' Papers, Robert G. Nath
Internal Revenue Service Summonses For "Sensitive"Accountants' Papers, Robert G. Nath
Vanderbilt Law Review
Every modern public corporation has obligations of accountability and disclosure to the public and to its shareholders. These accepted duties of disclosure, however, become the source of conflicts when government agencies make unanticipated inquiries of accountants about otherwise private or background data concerning the corporations they audit. This is particularly true when a public corporation's duties of financial accountability, which stem chiefly from securities law requirements and fiduciary duties,evoke the Internal Revenue Service's interest in information that may reveal or be probative of the corporation's tax liability. Most corporate taxpayers and their accountants understand and accept--if only reluctantly--their obligations to …
Fraud In Commodity Futures Trading--An Examination Of The Investor's Remedies, Lisa G. Demartini
Fraud In Commodity Futures Trading--An Examination Of The Investor's Remedies, Lisa G. Demartini
Vanderbilt Law Review
This Note examines the various avenues of redress available to the defrauded commodity futures investor. Initially, an examination of two remedies expressly provided in the Commodity Exchange Act (CEA)--reparations and arbitration--demonstrates their current inefficiencies and inadequacies. Next, the Note considers the possibility of recovery under the antifraud provision of the Securities Exchange Act and argues that such a cause of action should still be available when the investor can show that the particular discretionary trading account is a security." Finally, a discussion of an implied private right of action for violations of the antifraud provision of the CEA reveals much …
Damages For Insider Trading In The Open Market: A New Limitation On Recovery Under Rule 10b-5, John B. Grenier
Damages For Insider Trading In The Open Market: A New Limitation On Recovery Under Rule 10b-5, John B. Grenier
Vanderbilt Law Review
The Elkind court's adoption of a "disgorgement measure" of damages for insider trading on undisclosed misrepresented material information in the open market is basically sound. In allowing compensation to the extent practicable, the Second Circuit chose the best solution among the available alternatives. The decision's paramount problems arise in its shifted emphasis to deterrence; the court has neither provided plaintiffs with a sufficient incentive to sue nor created the level of deterrence that some cases might require. Future courts, however, can remedy this situation if they follow Elkind and also award punitive damages in cases in which plaintiffs' losses exceed …