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Confronting The Peppercorn Settlement In Merger Litigation: An Empirical Analysis And A Proposal For Reform, Jill E. Fisch, Sean J. Griffith, Steven M. Davidoff
Confronting The Peppercorn Settlement In Merger Litigation: An Empirical Analysis And A Proposal For Reform, Jill E. Fisch, Sean J. Griffith, Steven M. Davidoff
Steven Davidoff Solomon
Shareholder litigation challenging corporate mergers is ubiquitous, with the likelihood of a shareholder suit exceeding 90%. The value of this litigation, however, is questionable. The vast majority of merger cases settle for nothing more than supplemental disclosures in the merger proxy statement. The attorneys that bring these lawsuits are compensated for their efforts with a court-awarded fee. This leads critics to charge that merger litigation benefits only the lawyers who bring the claims, not the shareholders they represent. In response, defenders of merger litigation argue that the lawsuits serve a useful oversight function and that the improved disclosures that result …
E-Commerce And Electronic Payment System Risks: Lessons From Paypal, Lawrence J. Trautman
E-Commerce And Electronic Payment System Risks: Lessons From Paypal, Lawrence J. Trautman
Lawrence J. Trautman Sr.
What are the major risks perceived by those engaged in e-commerce and electronic payment systems? What development risks, if they become reality, may cause substantial increases in operating costs or threaten the very survival of the enterprise? This article utilizes the relevant annual report disclosures from eBay (parent of PayPal), along with other eBay and PayPal documents, as a potentially powerful teaching device. Most of the descriptive language to follow is excerpted directly from eBay’s regulatory filings. My additions include weaving these materials into a logical presentation and providing supplemental sources for those who desire a deeper look (usually in …
How Independent (Outside) Directors’ Compensation Structure, Their Frequency Of Meetings And Concentrated Ownership Effects Shareholder’S Wealth? Evidence From Indian Traded Companies, Rakesh Yadav
Rakesh Yadav
Corporate Governance advocates have strongly encouraged firms to include proper structure in independent directors’ compensation to help align directors’ interested with that of corporate stockholders. While the argument in favor of structure based director compensation is intuitively appealing, there is very little evidence of the efficacy of structure based director compensation .Regulators in India through Clause -49(equivalent to Sarbanes –Oxley act of U.S.A) of stock exchange listing agreement on other side wish to increase market stability and efficiency through new reforms in compensation without examining the impact of ownership structure on the shareholder’s wealth. In an effort to determine the …