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Full-Text Articles in Law
Defining Misappropriation: The Spousal Duty Of Loyalty And The Expectation Of Benefit, M. Anne Kaufold
Defining Misappropriation: The Spousal Duty Of Loyalty And The Expectation Of Benefit, M. Anne Kaufold
Mercer Law Review
In a case of first impression, SEC v. Yun, the United States Court of Appeals for the Eleventh Circuit settled two disputed aspects of insider-trading liability. First, a duty of loyalty and confidentiality between spouses may be shown if the spouses have a history or practice of sharing and maintaining business confidences or, if in disclosing the confidential information, the spouse breaches an agreement to maintain the other spouse's business confidences. Second, in a misappropriation theory of insider-trading liability action, the Securities and Exchange Commission ("SEC") must prove that the misappropriator expected to benefit from the tip. The decision …
Pslra, Slusa, And Variable Annuities: Overlooked Side Effects Of A Potent Legislative Medicine, Michael J. Borden
Pslra, Slusa, And Variable Annuities: Overlooked Side Effects Of A Potent Legislative Medicine, Michael J. Borden
Mercer Law Review
This Article highlights a harmful and far-reaching unintended consequence of two major pieces of securities litigation reform legislation1 that were passed as part of the Republican party's Contract with America in the mid-1990s. These reforms were justified, in part, on the grounds that they would benefit investors by improving disclosure of financial information by corporations. However, for many aggrieved investors, the effect of the legislation was just the opposite. Because of inadequate and misleading disclosures made by life insurance companies and their registered representatives, consumers were induced to purchase inappropriate investments carrying excessive fees that reduced the value of their …