Law Commons^™

The Myth Of Morrison: Securities Fraud Litigation Against Foreign Issuers, Robert Bartlett, Matthew D. Cain, Jill E. Fisch, Steven Davidoff Solomon

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Using a sample of 388 securities fraud lawsuits filed between 2002 and 2017 against foreign issuers, we examine the effect of the Supreme Court's decision in Morrison v. National Australia Bank Ltd. We find that the description of Morrison as a steamroller, substantially ending litigation against foreign issuers, is a myth. Instead, we find that Morrison did not significantly change the type of litigation brought against foreign issuers, which, both before and after this case, focused on foreign issuers with a U.S. listing and substantial U.S. trading volume. Although dismissal rates rose post-Morrison, we find no evidence …

Choice Of Law And Jurisdictional Policy In The Federal Courts, Tobias Barrington Wolff

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For seventy-five years, Klaxon v. Stentor Electric Manufacturing has provided a one-line answer to choice-of-law questions in federal diversity cases: Erie requires the federal court to employ the same law that a court of the state would select. The simplicity of the proposition likely accounts for the unqualified breadth with which federal courts now apply it. Choice of law doctrine is difficult, consensus in hard cases is elusive, and the anxiety that Erie produces over the demands of federalism tends to stifle any reexamination of core assumptions. The attraction of a simple answer is obvious. But Klaxon cannot bear the …

Confronting The Peppercorn Settlement In Merger Litigation: An Empirical Analysis And A Proposal For Reform, Jill E. Fisch, Sean J. Griffith, Steven M. Davidoff

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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 …

Ruth Bader Ginsburg And Sensible Pragmatism In Federal Jurisdictional Policy, Tobias Barrington Wolff

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This article, written as part of a symposium celebrating the work of Justice Ruth Bader Ginsburg on the occasion of her fifteenth year on the Supreme Court, examines the strain of sensible legal pragmatism that informs Justice Ginsburg's writing in the fields of Civil Procedure and Federal Jurisdiction. Taking as its point of departure the Supreme Court's decision in City of Chicago v. International College of Surgeons, in which Ginsburg dissented, the article develops an argument against strict textualism in federal jurisdictional analysis. In its place, the article urges a purposive mode of interpretation that approaches jurisdictional text with a …

The Domestic Influence Of International Criminal Tribunals: The International Criminal Tribunal For The Former Yugoslavia And The Creation Of The State Court Of Bosnia & Herzegovina, William W. Burke-White

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International criminal tribunals are often criticized for having minimal influence on the states over which they exercise jurisdiction. This article argues that the International Criminal Tribunal for the Former Yugoslavia has had a far more positive impact on domestic governance in Bosnia & Herzegovina than previously assumed by both the academic and policy communities. The article develops a theoretical model to explain the impact of international criminal tribunals on domestic governance and tests that model against the ICTY¹s influence in Bosnia. More specifically, the article advances the claim that the nature of the tribunal¹s jurisdictional relationship with domestic judicial institutions …

Prescriptive Authority: Global Markets As A Challenge To National Regulatory System, David J. Gerber

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No abstract provided.

Agency Choice Of Policymaking Form, Elizabeth Magill

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An administrative agency delegated some task--protect the environment, assure the integrity of the securities markets, improve auto safety--might carry out that obligation by adopting a rule, bringing or deciding a case, or announcing its interpretation of the statute. Although agencies are unique institutions in this respect, this state of affairs generates little comment. This Article aims to rectify that by identifying, evaluating, and coming to terms with the phenomenon of agency choice of policymaking form. That phenomenon can be simply stated: The typical administrative agency is authorized to use a range of distinct policymaking forms to effectuate its statutory mandate …

The Revolution That Wasn't, Elizabeth Magill

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A principal legacy of the Rehnquist Court is its revitalization of doctrines associated with federalism. That jurisprudence has many critics and many defenders. They disagree about how to describe what has happened, the importance of what has happened, and the wisdom of what has happened. But they all agree that something has happened. There has been genuine innovation in this area of constitutional law.

Not so with separation of powers doctrine. Commentators do not perceive important shifts in the doctrine. Nor should they-the reasoning and results in the Rehnquist Court cases are of a piece with what came before. Lack …

A Community Of Courts: Toward A System Of International Criminal Law Enforcement, William W. Burke-White

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No abstract provided.

Jurisdiction To Adjudicate: End Of The Century Or Beginning Of The Millennium?, Stephen B. Burbank

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No abstract provided.

The New Economics Of Jurisdictional Competition: Devolutionary Federalism In A Second-Best World, William W. Bratton, Joseph A. Mccahery

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No abstract provided.

Where's The Beef? The Interjurisdictional Effects Of New Jersey's Entire Controversy Doctrine, Stephen B. Burbank

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No abstract provided.

Three Opinions, Stephen B. Burbank

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No abstract provided.

Compounding Or Creating Confusion About Supplemental Jurisdiction? A Reply To Professor Freer, Thomas D. Rowe Jr., Stephen B. Burbank, Thomas M. Mengler

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No abstract provided.

A Coda On Supplemental Jurisdiction, Stephen B. Burbank, Thomas D. Rowe Jr., Thomas M. Mengler

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No abstract provided.