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Full-Text Articles in Law

Just Say No? Shareholder Voting On Securities Class Actions, Albert H. Choi, Stephen J. Choi, Adam C. Pritchard Oct 2022

Just Say No? Shareholder Voting On Securities Class Actions, Albert H. Choi, Stephen J. Choi, Adam C. Pritchard

Articles

The U.S. securities laws allow security-holders to bring a class action suit against a public company and its officers who make materially misleading statements to the market. The class action mechanism allows individual claimants to aggregate their claims. This procedure mitigates the collective action problem among claimants, and also creates potential economies of scale. Despite these efficiencies, the class action mechanism has been criticized for being driven by attorneys and also encouraging nuisance suits. Although various statutory and doctrinal solutions have been proposed and implemented over the years, the concerns over the agency problem and nuisance suits persist. This ...


Reducing Prejudice Through Law: Evidence From Experimental Psychology, Sara Emily Burke, Roseanna Sommers Oct 2022

Reducing Prejudice Through Law: Evidence From Experimental Psychology, Sara Emily Burke, Roseanna Sommers

Articles

Can antidiscrimination law effect changes in public attitudes toward minority groups? Could learning, for instance, that employment discrimination against people with clinical depression is legally prohibited cause members of the public to be more accepting toward people with mental health conditions? In this Article, we report the results of a series of experiments that test the effect of inducing the belief that discrimination against a given group is legal (versus illegal) on interpersonal attitudes toward members of that group. We find that learning that discrimination is unlawful does not simply lead people to believe that an employer is more likely ...


The Case For Banning (And Mandating) Ransomware Insurance, Kyle D. Logue, Adam B. Shniderman Jun 2022

The Case For Banning (And Mandating) Ransomware Insurance, Kyle D. Logue, Adam B. Shniderman

Articles

Ransomware attacks are becoming increasingly pervasive and disruptive, resulting in ransom demands becoming more exorbitant. Payments for ransom costs are increasingly being covered by insurance, which may offer coverage for a variety of cyber-related losses. Some commentators have expressed concern over this market phenomenon. Specifically, the concern is that the presence of insurance is making the ransomware problem worse based on the following theory: because there is ransomware insurance that covers ransom payments, and because paying the ransom is often far cheaper than paying the restoration and business interruption costs covered under the policy, there is an increased tendency to ...


New Innovation Models In Medical Ai, W Nicholson Price Ii, Rachel E. Sachs, Rebecca S. Eisenberg Mar 2022

New Innovation Models In Medical Ai, W Nicholson Price Ii, Rachel E. Sachs, Rebecca S. Eisenberg

Articles

In recent years, scientists and researchers have devoted considerable resources to developing medical artificial intelligence (AI) technologies. Many of these technologies—particularly those that resemble traditional medical devices in their functions—have received substantial attention in the legal and policy literature. But other types of novel AI technologies, such as those related to quality improvement and optimizing use of scarce facilities, have been largely absent from the discussion thus far. These AI innovations have the potential to shed light on important aspects of health innovation policy. First, these AI innovations interact less with the legal regimes that scholars traditionally conceive ...


Legal Writing Mechanics: A Bibliography, Margaret Hannon Jan 2022

Legal Writing Mechanics: A Bibliography, Margaret Hannon

Articles

Great legal writing is about more than mechanics. But careful attention to legal writing mechanics is nevertheless critical for effective, clear, and persuasive writing. Proper grammar, usage, and correct punctuation makes analysis clearer and therefore more effective. It also shows the reader that the writer has paid close attention to detail, which makes the reader more likely to find the writer credible. Relatedly, communicating in plain language is critical to making sure that “readers can easily find what they need, understand what they find, and use that information.” And proper citation—or even better, stylish citation—helps the reader easily ...


The Elastic Corporate Form In International Law, Julian Arato Jan 2022

The Elastic Corporate Form In International Law, Julian Arato

Articles

The corporate form is being distorted by international law. Surprisingly, this is occurring in the law of foreign investment, where one would expect the stability and efficiency of corporate formalities to matter most. The main driver is a highly enforceable mode of treaty-based arbitration known as investor-state dispute settlement (ISDS), which affords foreign investors a private right of action to sue sovereign states. Questions of corporate law come up regularly in ISDS. But when addressing them, tribunals have varied widely in their respect for core formalities. This is undermining the basic relationships among all corporate stakeholders—including shareholders, management, creditors ...


Race Belongs In Week One Of Lrw, Beth H. Wilensky Jan 2022

Race Belongs In Week One Of Lrw, Beth H. Wilensky

Articles

I talk to my 1Ls about race and the law in their first week of law school. In doing so, I have discovered that discussing race helps me introduce foundational concepts about legal writing and law school that we will return to throughout the year. That is partly because race is relevant to nearly every topic law school touches on. But it is also because race is present in—and often conspicuous in its absence from—court opinions in ways that provide rich fodder for discussing how to approach law school. That topic interests all students—even those who might ...


The Parallel March Of The Ginis: How Does Taxation Relate To Inequality, And What Can Be Done About It?, Reuven S. Avi-Yonah Jan 2022

The Parallel March Of The Ginis: How Does Taxation Relate To Inequality, And What Can Be Done About It?, Reuven S. Avi-Yonah

Articles

The United States currently has one of the highest levels of inequality among industrialized economies. In addition, numerous scholars have shown that social mobility in the United States is significantly lower than it was in the period between 1945 and 1970, when inequality was declining. The combination of these trends is dangerous because it risks transforming the United States into a society where small elites capture most of the gains, a pattern in which growth cannot be sustained over time. The level of inequality in the United States after taxes and transfers are taken into account is much lower, but ...


A Quiet Revolution: How Judicial Discipline Essentially Eliminated Foster Care And Nearly Went Unnoticed., Melissa Carter, Christopher Church, Vivek Sankaran Jan 2022

A Quiet Revolution: How Judicial Discipline Essentially Eliminated Foster Care And Nearly Went Unnoticed., Melissa Carter, Christopher Church, Vivek Sankaran

Articles

This Article argues that juvenile court judges can safely reduce the number of children entering foster care by faithfully and rigorously applying the law. Judges often fail to perform this core functon when a state child welfare agency separates a child from their family. Judges must perform their role as impartial gatekeeper despite the temptation to be "omnipotent moral busybodies".


A Congressional Review Act For The Major Questions Doctrine, Christopher J. Walker Jan 2022

A Congressional Review Act For The Major Questions Doctrine, Christopher J. Walker

Articles

Last Term, the Supreme Court recognized a new major questions doctrine, which requires Congress to provide clear statutory authorization for an agency to regulate on a question of great economic or political significance. This new substantive canon of statutory interpretation will be invoked in court challenges to federal agency actions across the country, and it will no doubt spark considerable scholarly attention. This Essay does not wade into those doctrinal or theoretical debates. Instead, it suggests one way Congress could respond: by enacting a Congressional Review Act for the major questions doctrine. In other words, Congress could establish a fast-track ...


Comment: Without Effective Lawyers, Do More Determinate Legal Standards Really Matter?, Vivek S. Sankaran Jan 2022

Comment: Without Effective Lawyers, Do More Determinate Legal Standards Really Matter?, Vivek S. Sankaran

Articles

In Confronting Indeterminacy and Bias in Child Protection Law, Professor Josh Gupta-Kagan wisely proposes that the child protection system needs more precise legal standards, not just to limit unnecessary state intrusion in the lives of families, but to also define the scope of that intrusion if it must occur. But as I read his piece, a question repeatedly ran through my mind - will the changes he proposes have any impact if parents in the child protection system continue to have ineffective lawyers representing them?


Elephant In The Room, Patrick Barry Jan 2022

Elephant In The Room, Patrick Barry

Articles

Over the past several decades, the student population at law schools across the country has become more and more racially diverse. In 1987, for example, only about 1 in every 10 law students identified as a person of color; by 2019, that percentage shot up to almost 1 out of 3.

Yet take a look at virtually any collection of recommended manuals on writing. You are unlikely to find even one that is authored by a person of color. The composition of law schools may be dramatically changing, but the materials that students are given to help them figure out ...


Feedback Loops: Surviving The Feedback Desert, Patrick Barry Jan 2022

Feedback Loops: Surviving The Feedback Desert, Patrick Barry

Articles

I ask my law students the following set of parallel questions on the very first day of “Feedback Loops,” a course I have been teaching for the past couple of years: What did you get better at last year? How do you know? What should you get better at this year? How do you know?


Investigative Advocacy: The Mechanics Of Muckraking, Patrick Barry Jan 2022

Investigative Advocacy: The Mechanics Of Muckraking, Patrick Barry

Articles

This essay argues that drafting a complaint is a form of investigative advocacy and that the best of them uphold the tradition of muckraking journalism.


Mary Lou Graves, Nolen Breedlove, And The Nineteenth Amendment, Ellen D. Katz Jan 2022

Mary Lou Graves, Nolen Breedlove, And The Nineteenth Amendment, Ellen D. Katz

Articles

This close examination of two cases is part of a larger ongoing project to provide a distinct account of the Nineteenth Amendment. In 1921, the Alabama Supreme Court held the Nineteenth Amendment required that any poll tax be imposed equally on men and women. Sixteen years later, the Supreme Court disagreed. Juxtaposing these two cases, and telling their story in rich context, captures my larger claim that—contrary to the general understanding in the scholarly literature—the Nineteenth Amendment was deliberately crafted as a highly circumscribed measure that would eliminate only the exclusively male franchise while serving steadfastly to preserve ...


The Myth Of The Great Writ, Leah M. Litman Dec 2021

The Myth Of The Great Writ, Leah M. Litman

Articles

Habeas corpus is known as the “Great Writ” because it supposedly protects individual liberty against government overreach and guards against wrongful detentions. This idea shapes habeas doctrine, federal courts theories, and habeas-reform proposals.

It is also incomplete. While the writ has sometimes protected individual liberty, it has also served as a vehicle for the legitimation of excesses of governmental power. A more complete picture of the writ emerges when one considers traditionally neglected areas of public law that are often treated as distinct—the law of slavery and freedom, Native American affairs, and immigration. There, habeas has empowered abusive exercises ...


Problematic Interactions Between Ai And Health Privacy, W. Nicholson Price Ii Nov 2021

Problematic Interactions Between Ai And Health Privacy, W. Nicholson Price Ii

Articles

Problematic Interactions Between AI and Health Privacy Nicholson Price, University of Michigan Law SchoolFollow Abstract The interaction of artificial intelligence (AI) and health privacy is a two-way street. Both directions are problematic. This Essay makes two main points. First, the advent of artificial intelligence weakens the legal protections for health privacy by rendering deidentification less reliable and by inferring health information from unprotected data sources. Second, the legal rules that protect health privacy nonetheless detrimentally impact the development of AI used in the health system by introducing multiple sources of bias: collection and sharing of data by a small set ...


Love Hertz: Corporate Groups And Insolvency Forum Selection, John A. E. Pottow Nov 2021

Love Hertz: Corporate Groups And Insolvency Forum Selection, John A. E. Pottow

Articles

The Hertz bankruptcy got a lot of attention, including for its bizarre equity trading. A less heralded but more significant legal aspect of that insolvency, however, was its complex interaction of cross-border insolvency proceedings.

This article discusses the “centripetal” and “centrifugal” forces in the Hertz case that counselled a U.S.-based centralized solution for an international enterprise comprising over 10,000 branches centripetally but also accommodated centrifugal European resistance to subject directors to the consequences of filing their entities in a foreign jurisdiction. This not uncommon constellation of incentives required not a COMI shift but what this article terms ...


Editing And Interleaving, Patrick Barry Nov 2021

Editing And Interleaving, Patrick Barry

Articles

This essay suggests that a powerful learning strategy called "interleaving"--which involves strategically switching between cognitive tasks--is being underused. It can do more than make study sessions more productive; it can also make editing sessions more productive.


Caring For The Souls Of Our Students: The Evolution Of A Community Economic Development Clinic During Turbulent Times, Gowri J. Krishna, Kelly Pfeifer, Dana Thompson Oct 2021

Caring For The Souls Of Our Students: The Evolution Of A Community Economic Development Clinic During Turbulent Times, Gowri J. Krishna, Kelly Pfeifer, Dana Thompson

Articles

Community Economic Development (CED) clinicians regularly address issues surrounding economic, racial, and social justice, as those are the core principles motivating their work to promote vibrant, diverse, and sustainable communities. When COVID-19 arrived, and heightened attention to police brutality and racial injustice ensued, CED clinicians focused not only on how to begin to address these issues in their clinics, but on how to discuss these issues more deeply and effectively with their students. This essay highlights the ways in which the pandemic school year influenced significant rethinking of one CED clinic’s operations: first, the pandemic sharpened the clinic’s ...


Contract Schemas, Roseanna Sommers Oct 2021

Contract Schemas, Roseanna Sommers

Articles

This review draws on the notion of “contract schemas” to characterize what ordinary people think is happening when they enter into contractual arrangements. It proposes that contracts are schematically represented as written documents filled with impenetrable text containing hidden strings, which are routinely signed without comprehension. This cognitive template, activated whenever people encounter objects with these characteristic features, confers certain default assumptions, associations, and expectancies. A review of the literature suggests that contract schemas supply (a) the assumption that terms will be enforced as written, (b) the feeling that one is obligated to perform, and (c) the sense that one ...


Funding Global Governance, Kristina B. Daugirdas Oct 2021

Funding Global Governance, Kristina B. Daugirdas

Articles

Funding is an oft-overlooked but critically important determinant of what public institutions are able to accomplish. This article focuses on the growing role of earmarked voluntary contributions from member states in funding formal international organizations such as the United Nations and the World Health Organization. Heavy reliance on such funds can erode the multilateral governance of international organizations and poses particular risks for two kinds of undertakings: normative work, such as setting standards and identifying best practices; and evaluating the conduct of member states and holding those states accountable, including through public criticism, when they fall short. International organizations have ...


The Promise And Limits Of Lawfulness: Inequality, Law, And The Techlash, Salomé Viljoen Sep 2021

The Promise And Limits Of Lawfulness: Inequality, Law, And The Techlash, Salomé Viljoen

Articles

In response to widespread skepticism about the recent rise of “tech ethics”, many critics have called for legal reform instead. In contrast with the “ethics response”, critics consider the “lawfulness response” more capable of disciplining the excesses of the technology industry. In fact, both are simultaneously vulnerable to industry capture and capable of advancing a more democratic egalitarian agenda for the information economy. Both ethics and law offer a terrain of contestation, rather than a predetermined set of commitments by which to achieve more democratic and egalitarian technological production. In advancing this argument, the essay focuses on two misunderstandings common ...


Voices From A Prison Pandemic: Lives Lost From Covid-19 At Lakeland Correctional, Kimberly Thomas Sep 2021

Voices From A Prison Pandemic: Lives Lost From Covid-19 At Lakeland Correctional, Kimberly Thomas

Articles

Coronavirus tore through jails and prisons like wildfire. In some states, more than half of the people incarcerated there tested positive for COVID-19; nearly 400,000 people in prison across the United States have tested positive. For people in prison, COVID-19 brought the loss of close friends, solitary confinement, loss of connection with family and programming, lack of information, and fear of contracting the virus. It has also reminded those who are incarcerated of the one-dimensional way in which people in prison are perceived. As stated by one collaborator, Cory Souders, "[s]o many men and women who come to ...


How Serving Jobless Workers During The Pandemic’S Economic Recession Grounded Students: A Reflection From Michigan’S Workers’ Rights Clinic, Rachael Kohl, Nancy Vettorello Sep 2021

How Serving Jobless Workers During The Pandemic’S Economic Recession Grounded Students: A Reflection From Michigan’S Workers’ Rights Clinic, Rachael Kohl, Nancy Vettorello

Articles

The COVID-19 pandemic drastically changed the delivery of legal education. Many courses switched to remote instruction, and that change was particularly complicated for clinical courses. For Michigan's Workers' Right Clinic (WRC), however, the pandemic brought more than a change in course delivery - it brought a huge influx of new cases and community need with rapidly and continually changing laws. This article describes how the WRC navigated and thrived, despite the rapid changes brought about by the pandemic, and how the clinic provided an opportunity for students to engage in more complex work that benefited students both academically and mentally ...


The Future Of Securities Law In The Supreme Court, Adam C. Pritchard, Robert B. Thompson Aug 2021

The Future Of Securities Law In The Supreme Court, Adam C. Pritchard, Robert B. Thompson

Articles

Since the enactment of the first federal securities statute in 1933, securities law has illustrated key shifts in the Supreme Court’s jurisprudence. During the New Deal, the Court’s securities law decisions shifted almost overnight from open hostility toward the newly-expanded administrative state to broad deference to agency expertise. In the 1940s, securities cases helped build the legal foundation for a broadly enabling administrative law. The 1960s saw the Warren Court creating new implied rights of action in securities law illustrative of the Court’s approach to statutes generally. The stage seemed set for the rise of “federal corporate ...


Antiracist Remedial Approaches In Judge Gregory’S Jurisprudence, Leah M. Litman Jul 2021

Antiracist Remedial Approaches In Judge Gregory’S Jurisprudence, Leah M. Litman

Articles

This piece uses the idea of antiracism to highlight parallels between school desegregation cases and cases concerning errors in the criminal justice system. There remain stark, pervasive disparities in both school composition and the criminal justice system. Yet even though judicial remedies are an integral part of rooting out systemic inequality and the vestiges of discrimination, courts have been reticent to use the tools at their disposal to adopt proactive remedial approaches to address these disparities. This piece uses two examples from Judge Roger Gregory’s jurisprudence to illustrate how an antiracist approach to judicial remedies might work.


Contract Design When Relationship-Specific Investment Produces Asymmetric Information, Albert H. Choi, George Triantis Jun 2021

Contract Design When Relationship-Specific Investment Produces Asymmetric Information, Albert H. Choi, George Triantis

Articles

Under conventional contract theory, contracts may be efficient by protecting relationship specific investment from holdup in subsequent (re)negotiation over terms of trade. This paper demonstrates a different problem when specific investment also provides significant private information to the investing party. This is fairly common: for example, a manufacturer invests to learn about its buyer's idiosyncratic needs or a collaborator invests to learn about a joint venture. We show how such private information can lead to subsequent bargaining failure and suboptimal ex ante relationship-specific investment. We also show that this inefficiency is worse if the parties enter into a ...


The Problem With Assumptions: Revisiting “The Dark Figure Of Sexual Recidivism”, Tamara Rice Lave, Jj Prescott, Grady Bridges Jun 2021

The Problem With Assumptions: Revisiting “The Dark Figure Of Sexual Recidivism”, Tamara Rice Lave, Jj Prescott, Grady Bridges

Articles

What is the actual rate of sexual recidivism given the well‐ known fact that many crimes go unreported? This is a difficult and important problem, and in “The dark figure of sexual recidivism,” Nicholas Scurich and Richard S. John (2019) attempt to make progress on it by “estimat[ing] actual recidivism rates . . . given observed rates of reoffending” (p. 171). In this article, we show that the math in their probabilistic model is flawed, but more importantly, we demonstrate that their conclusions follow ineluctably from their empirical assumptions and the unrepresentative empirical research they cite to benchmark their calculations. Scurich and ...


Deal Protection Devices, Albert H. Choi Jun 2021

Deal Protection Devices, Albert H. Choi

Articles

In mergers and acquisitions transactions, a buyer and a seller will often agree to contractual mechanisms (deal protection devices) to deter third parties from jumping the deal and to compensate a disappointed buyer. With the help of auction theory, this Article analyzes various deal protection devices, while focusing on the two most commonly used mechanisms: match rights and target termination fees. A match right gives the buyer a right to “match” a third party’s offer so as to prevent the third party from snatching the target away, while a termination fee compensates the buyer when a third party acquires ...