Law Commons^™

Delaware Court Enjoins Stockholder Vote Pending Corrective Disclosures, Robert S. Reder

Vanderbilt Law Review En Banc

No abstract provided.

What Mdl And Class Actions Have In Common, Howard M. Erichson

Vanderbilt Law Review En Banc

No abstract provided.

The Township, The Hope Of Democracy: History As Moral Act, Jane Manners

Vanderbilt Law Review En Banc

No abstract provided.

Delaware Courts Confront Question Whether Cleansing Effect Of Corwin Applies To Duty Of Loyalty Claims, Robert S. Reder, Tifanny M. Burba

Vanderbilt Law Review En Banc

No abstract provided.

We Need To Know Who Invests In Bank Equity, Yesha Yadav

Vanderbilt Law Review En Banc

No abstract provided.

Eu-Acp Economic Partnership Agreements: Modern Colonialism Disguised In Violation Of The Wto, Danielle Robertson

Vanderbilt Journal of Transnational Law

The Economic Partnership Agreements (EPAs) between the European Union and the African, Caribbean, and Pacific (ACP) nation-states are the most recent construct in a long history of developing countries' dependency and reliance on developed European countries. Even though Preferential Trade Agreements(PTAs) are widely used by countries party to the World Trade Organization (WTO), the European Union is hiding behind illusions of non-economic trade benefits, such as increased stability and health benefits, in their EPAs with ACP countries. The European Union has the economic bargaining power, creating an upper hand in the trade negotiations with the former colonial countries and other …

What Will China Do When Land Use Rights Begin To Expire?, Gregory M. Stein

Vanderbilt Journal of Transnational Law

China does not permit the private ownership of land. Instead, private parties may obtain the right to use property for up to seventy years. These parties own the structures on the land but not the underlying real estate. China's recent economic boom hinges on the success of its real estate market, but the government has not yet addressed three critical questions it must answer soon: Does the holder of a land use right have the ability to renew that right when it expires? If the holder has this ability, must it pay to renew the right? And, if the holder …

Executive Agreements Relying On Implied Statutory Authority: A Response To Bodansky And Spiro, David A. Wirth

Vanderbilt Journal of Transnational Law

Until recently, the law surrounding executive agreements has been a subject of attention from a relatively small number of academics concerned with foreign relations law, along with State Department lawyers who have a need to deploy the underlying concepts in concrete determinations. Then, with little advance warning, the Paris Agreement thrust legal doctrines surrounding executive agreements to center stage in public policy debates and in the popular press. President Donald Trump's campaign promise to "cancel" the Paris Agreement has drawn even more attention to the issue. Unfortunately, the result has been a great deal of confusion, often needlessly contributing to …

The Rcep And Trans-Pacific Intellectual Property Norms, Peter K. Yu, Peter K. Yu

Vanderbilt Journal of Transnational Law

This Article examines the Regional Comprehensive Economic Partnership (RCEP) with a focus on the intellectual property norms that it seeks to develop. The first half of the Article focuses on the RCEP Agreement as a mega-regional agreement. It begins by briefly discussing the historical origins of the RCEP. It then explores three possible scenarios in which the RCEP Agreement will help shape trade and intellectual property norms in the Asia-Pacific region. Specifically, the Article evaluates the scenarios in which the agreement will function as a rival pact, a building block, and an alternative path. The second half of this Article …

Fairness, Legitimacy, And Selection Decisions In International Criminal Law, Jonathan Hafetz

Vanderbilt Journal of Transnational Law

The selection of situations and cases remains one of the most vexing challenges facing the International Criminal Court (ICC) and other international criminal tribunals. Since Nuremberg, international criminal law (ICL) has experienced significant progress in developing procedural safeguards designed to protect the fair trial rights of the accused. But it continues to lag in the fairness of its selection decisions as measured against the norm of equal application of law, whether in the disproportionate focus on certain regions (as with the ICC's focus on Africa), the application of criminal responsibility only to one side of a conflict, or the continued …

Indiscriminate Attacks And The Past, Present, And Future Of The Rules/Standards And Objective/Subjective Debates In International Humanitarian Law, Stephen Townley

Vanderbilt Journal of Transnational Law

Civil society, the United Nations, and others are subjecting the conduct of hostilities to increasing scrutiny. But they often lack access to internal targeting data and therefore frequently render legal judgments based on the effects of attacks or assertions that particular weapons or methods of combat are inherently unlawful. This Article analyzes the historical development of key provisions of international humanitarian law (IHL) within the framework of two perennial legal debates--that between rules and standards and that between objective and subjective tests. It argues that while targeting provisions have generally reflected a balance between those two dyads, the jurisprudence of …

The Need For Speed: Regulatory Approaches To High Frequency Trading In The United States And The European Union, Megan Woodward

Vanderbilt Journal of Transnational Law

High frequency trading (HFT) is a financial investment execution technique with a growing presence in world financial markets. Investment firms engaging in HFT use computer-automated algorithms to trade financial instruments at high speeds. There is much debate as to what HFT entails, particularly its risks, benefits, and costs, and whom HFT affects (positively or negatively). In particular, this Note addresses efforts in the United States and the European Union to define and regulate HFT. The proposed Regulation Systems Compliance and Integrity (Reg SCI) and Regulation Automated Trading (Reg AT) in the United States and Markets in Financial Instruments Directive II …

China's "Corporatization Without Privatization" And The Late Nineteenth Century Roots Of A Stubborn Path Dependency, Nicholas C. Howson

Vanderbilt Journal of Transnational Law

This Article analyzes the contemporary program of "corporatization without privatization" in the People's Republic of China (PRC) directed at China's traditional state-owned enterprises (SOEs) through a consideration of long ago precursor enterprise establishments--starting from the last Chinese imperial dynasty's creation of "government-promoted/supervised, merchant-financed/operated" (guandu shangban) firms in the latter part of the nineteenth century. While analysts are tempted to see the PRC corporations with listings on international exchanges that dominate the global economy and capital markets as expressions of "convergence," this Article argues that such firms in fact show deeply embedded aspects of path dependency unique to the Chinese context …

The Chancery Bank Of Delaware: Appraisal Arbitrageurs Expose Need To Further Reform Defective Appraisal Statute, Stanley Onyeador

Vanderbilt Law Review

A dark pool, a form of Alternative Trading System ("ATS"), is a private securities trading platform that-unlike public exchanges such as the New York Stock Exchange-allows participants to execute large block trades with delayed public disclosure. As neither party in a dark market transaction is trading on the public, or "lit," market or knows the identity of its counterparty, dark market trades allow participants to trade anonymously and keep trade strategies from competitors. Further, because dark market trades do not have to be publicly disclosed in real time, the price of a given security will, theoretically, stay relatively stable as …

After The Override: An Empirical Analysis Of Shadow Precedent, Brian Broughman, Deborah A. Widiss

Vanderbilt Law School Faculty Publications

Congressional overrides of prior judicial interpretations of statutory language are typically defined as equivalent to judicial overrulings, and they are presumed to play a central role in maintaining legislative supremacy. Our study is the first to empirically test these assumptions. Using a differences-in-differences research design, we find that citation levels decrease far less after legislative overrides than after judicial overrulings. This pattern holds true even when controlling for depth of the superseding event or considering only the specific proposition that was superseded. Moreover, contrary to what one might expect, citation levels decrease more quickly after restorative overrides—-in which Congress repudiates …

Risky Business? The Trump Administration And The State-Licensed Marijuana Industry, Robert A. Mikos

Vanderbilt Law School Faculty Publications

While it is clear that the new attorney general opposes state marijuana reforms, it is less clear what he will or even could do to block those reforms or to curb the industry that has flourished under them. The popularity of reforms, limits on federal resources, and legal doctrines like the anticommandeering rule all limit the DOJ’s ability to shut down the state-licensed marijuana industry. While Jeff Sessions may never embrace reforms, he may choose to pursue other tactics, like anti-marijuana media campaigns, to curb the use of marijuana and the harms caused thereby. Only time will tell, of course, …

Making Preemption Less Palatable: State Poison Pill Legislation, Robert A. Mikos

Vanderbilt Law School Faculty Publications

Congressional preemption constitutes perhaps the single greatest threat to state power and to the values served thereby. Given the structural incentives now in place, there is little to deter Congress from preempting state law, even when the state interests Congress displaces far exceed its own. The threat of preemption has raised alarms across the political spectrum, but no one has yet devised a satisfactory way to balance state and federal interests in preemption disputes. This Article devises a novel solution: state poison pill legislation. Borrowing a page from corporate law, poison pill legislation would enable the states to make preemption …

Protected Class Gatekeeping, Jessica A. Clarke

Vanderbilt Law School Faculty Publications

Courts routinely begin their analyses of discrimination claims with the question of whether the plaintiff has proven he or she is a “member of the protected class.” Although this refrain may sometimes be an empty formality, it has taken on real bite in a significant number of cases. For example, one court dismissed a claim by a man who was harassed with anti-Mexican slurs because he was of African American rather than Mexican ancestry. Other courts have dismissed sex discrimination claims by LGBT plaintiffs on the ground that LGBT status is not a protected class. Yet other courts have dismissed …

Stranded Costs And Grid Decarbonization, Jim Rossi, Emily Hammond

Vanderbilt Law School Faculty Publications

Over the past half century, energy law has endured many stranded cost experiments, each helping firms and customers adjust to a new normal. However, these past experiments have contributed to a myopic regulatory approach to past stranded cost recovery by: (1) endorsing a preference for addressing all stranded costs only after energy resource investment decisions have been made; and (2) fixating on the firm’s financial costs and protection of investors, rather than on the broader impacts of each on the energy system.

The current transition to decarbonization is already giving rise to stranded cost claims related to existing energy assets …

Reconstituting The Federalism Battle In Energy Transportation, Jim Rossi, Alexandra B. Klass

Vanderbilt Law School Faculty Publications

This article explores the growing federalism tensions in efforts to expand the nation’s energy transportation infrastructure — the electric transmission lines, natural gas pipelines, natural gas import and export terminals and related infrastructure that power the U.S. electricity and transportation systems. It uses two illustrations — one involving an interstate electric transmission line (subject to state jurisdiction) and one involving and an interstate natural gas pipeline (subject to federal jurisdiction) — to highlight how the clear jurisdictional lines between federal and state authority over these projects created decades ago is no longer adequate for today’s energy needs. We believe that …

Refugee Reception And Perception: Us Detention Camps And German Welcome Centers, Karla M. Mckanders, Valeria Gomez

Vanderbilt Law School Faculty Publications

The reception of refugees and asylum seekers has emerged as one of the most critical contemporary global issues. In 2015, the world experienced the most forced migrants since World War II. This essay compares the treatment of asylum seekers at reception in United States and Germany through each countries’ freedom and restriction of movement laws. This comparative analysis is based on Professor Karla McKanders’ December 2015 exploratory trip to Germany to learn more about the processing refugees in the midst of Germany accepting unprecedented numbers of refugees; and attorney Valeria Gomez’s December 2015 volunteer experience in the South Texas Family …

Penn Central Take Two, Christopher Serkin

Vanderbilt Law School Faculty Publications

Penn Central v. New York City is the most important regulatory takings case of all time. There, the Supreme Court upheld the historic preservation of Grand Central Terminal in part because the City offset the burden of the landmarking with a valuable new property interest—a transferable development right (TDR)—that could be sold to neighboring property. Extraordinarily, 1.2 million square feet of those very same TDRs, still unused for over forty years, are the subject of newly resolved takings litigation. According to the complaint, the TDRs that saved Grand Central were themselves taken by the government, which allegedly wiped out their …

Ceo Side Payments In Mergers And Acquisitions, Brian Broughman

Vanderbilt Law School Faculty Publications

In addition to golden parachutes, CEOs often negotiate for personal side payments in connection with the sale of their firms. Side payments differ from golden parachutes in that they are negotiated ex post in connection with a specific acquisition proposal, whereas golden parachutes are part of the executive’s employment agreement negotiated when she is hired. While side payments may benefit shareholders by countering managerial resistance to an efficient sale, they can also be used to redistribute merger proceeds to management. This Article highlights an overlooked distinction between pre-merger golden parachutes and merger side payments. Similar to a legislative rider attached …

The Free Exercise Of Religious Identity, Lauren Sudeall

Vanderbilt Law School Faculty Publications

In recent years, a particular strain of argument has arisen in response to decisions by courts or the government to extend certain rights to others. Grounded in religious freedom, these arguments suggest that individuals have a right to operate businesses or conduct their professional roles in a manner that conforms to their religious identity. For example, as courts and legislatures have extended the right to marry to same-sex couples, court clerks have refused to issue marriage certificates to such couples, claiming that to do so would violate their religious beliefs. Similarly, corporations have refused, for reasons grounded in religious identity, …

Reexamining The Doctrine Of Equitable Mootness In Light Of The Detroit Bankruptcy, Nicole Langston

Vanderbilt Law School Faculty Publications

Garnering debate, and sometimes harsh criticism, the doctrine of equitable mootness has been a focal point for academic debates among legal scholars for decades. "Unlike the constitutional doctrine of mootness, which bars consideration of appeals because no Article III case or controversy remains, the doctrine of equitable mootness is a pragmatic judicially-created principle, grounded in the notion that, with the passage of time after a judgment in equity and implementation of that judgment, effective relief on appeal becomes impractical, imprudent, and therefore inequitable. Applied principally in bankruptcy proceedings because of the equitable nature of bankruptcy judgments, equitable mootness is often …

Judicial Selection And Ideology, Brian T. Fitzpatrick

Vanderbilt Law School Faculty Publications

My topic is how best to select judges. As we all know, the method we use to select federal judges--including U.S. Supreme Court justices--has not changed since 1789: The President nominates, the Senate confirms, and the judges serve for life. But the states have experimented with a variety of different methods over the years. Some states have used something like the federal method.' Some states have elected their judges by popular vote. Some of those states have done so with party affiliation on the ballot, and some states have done so without it. Some states have selected judges through a …

Confidentiality Is Wishful Thinking ..., Suzanna Sherry

Vanderbilt Law School Faculty Publications

Confidentiality in the tenure review process.

Reinvention, Sean B. Seymore

Vanderbilt Law School Faculty Publications

It is axiomatic that once an invention has been patented, it cannot be patented again. This aligns with the quid pro quo theory of patents — the public would receive nothing new in exchange for the second patent. Enforcing this rule is done through the novelty requirement, which bars a patent if the invention is already known. But the rule is hard to justify if the original patentee reneged on the quid pro quo by inadequately disclosing how to make and use the invention. The inadequate disclosure suggests that the original inventor did not invent anything and the public received …

The Role Of Law In Adaptive Governance, J.B. Ruhl, Barbara A. Cosens, Robin K. Craig, Shana L. Hirsch

Vanderbilt Law School Faculty Publications

The term “governance” encompasses both governmental and nongovernmental participation in collective choice and action. Law dictates the structure, boundaries, rules, and processes within which governmental action takes place, and in doing so becomes one of the focal points for analysis of barriers to adaptation as the effects of climate change are felt. Adaptive governance must therefore contemplate a level of flexibility and evolution in governmental action beyond that currently found in the heavily administrative governments of many democracies. Nevertheless, over time, law itself has proven highly adaptive in western systems of government, evolving to address and even facilitate the emergence …

Scalia In The Casebooks, Brian T. Fitzpatrick, Paulson K. Varghese

Vanderbilt Law School Faculty Publications

In the time since Justice Antonin Scalia’s untimely death, much has been written about what his influence has been and what his influence will be. In this Essay, we try to quantify Scalia’s influence in law school constitutional-law curricula by studying how often his ideas are explored in constitutional-law casebooks. In particular, relative to other justices, we look at how often Scalia’s opinions (for the Court, or his separate opinions) are excerpted in the principal cases and how often he is referred to by name in the notes preceding and following the principal cases. We find that Scalia is at …