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Full-Text Articles in Law

Texas Two-Stepping Out Of Bankruptcy, Michael A. Francus Jan 2023

Texas Two-Stepping Out Of Bankruptcy, Michael A. Francus

Michigan Law Review Online

Johnson & Johnson has a problem. For decades, it sold talc baby powder, a product that made Johnson & Johnson a household name and earned the business billions. But as those babies grew up, they started getting cancer. And then they began suing. Last June, twenty-two plaintiffs cemented a $2.12 billion judgment against Johnson & Johnson for cancer caused by its baby powder. Another 38,000 cases (and counting) remain in progress, each with the potential for a similar verdict.

To handle these mass tort liabilities, Johnson & Johnson has followed the lead of many businesses and turned to the bankruptcy …


Framing The Framer: A Commentary On Treanor’S Gouverneur Morris As “Dishonest Scrivener”, David S. Schwartz Jan 2023

Framing The Framer: A Commentary On Treanor’S Gouverneur Morris As “Dishonest Scrivener”, David S. Schwartz

Michigan Law Review Online

Dean William Treanor’s masterful article, The Case of the Dishonest Scrivener: Gouverneur Morris and the Creation of the Federalist Constitution, makes a major contribution to scholarship on the founding, one that will have a profound impact on how we read and understand the Constitution. Treanor’s keen analyses and his presentation of important-but-overlooked historical details support the article’s central and historically significant arguments. Treanor’s research is at the forefront of emerging scholarship seeking to recover “the Federalist Constitution,” a body of constitutional interpretations favored by those Framers who advocated a strong national government. These nationalist interpretations were subsequently emphasized by …


Legal Guardrails For A Unicorn Crackdown, Alexander I. Platt Jan 2023

Legal Guardrails For A Unicorn Crackdown, Alexander I. Platt

Michigan Law Review Online

The Securities and Exchange Commission (SEC) is undertaking a historic effort to redraw the boundary between public and private companies. After years of watching—and sometimes encouraging—the explosive growth in less tightly regulated private markets and the proliferation of so-called “unicorns,” the agency is now reasserting its authority.

A key arrow in the agency’s regulatory quiver is its authority under section 12(g) of the Securities Exchange Act of 1934 (Exchange Act) to force private companies to “go public” when they reach a certain size. The provision requires any company whose shares are “held of record” by more than 2,000 persons to …