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Full-Text Articles in Law
Rule 10b-5 And The Rise Of The Unjust Enrichment Principle, James J. Park
Rule 10b-5 And The Rise Of The Unjust Enrichment Principle, James J. Park
Duke Law Journal
No abstract provided.
Losing The Loss Calculation: Toward A More Just Sentencing Regime In White-Collar Criminal Cases, Derick R. Vollrath
Losing The Loss Calculation: Toward A More Just Sentencing Regime In White-Collar Criminal Cases, Derick R. Vollrath
Duke Law Journal
The sentencing regime that governs white-collar criminal cases requires reform. The U.S. Sentencing Guidelines recommend sentences that are generally too high and place a grossly disproportionate emphasis on the concept of "loss"-the dollar value of the harm that a court finds a white-collar criminal to have caused. This concept of loss is ill defined, and often artificial to the point of being arbitrary. Moreover, the loss calculation fails to adequately approximate a defendant's culpability, dwarfing traditionally relevant considerations such as the manner in which the defendant committed the crime and the defendant's motive for doing so. Fortunately, the Supreme Court …
Fraud On The Market Gets A Minitrial: Eisen Through In Re Ipo, Patricia Groot
Fraud On The Market Gets A Minitrial: Eisen Through In Re Ipo, Patricia Groot
Duke Law Journal
Securities class actions involve contested pretrial hearings to determine the proper class of plaintiffs. The certification decision often affects the outcome of a case because defendants usually settle if the class is certified, whereas plaintiffs usually abandon the case without trial if certification is denied. Courts disagree, however, over the appropriate class certification procedure. Courts that emphasize efficiency invoke Eisen v. Carlisle & Jacquelin to preclude considering substantive issues during the pretrial hearing. Courts that emphasize the importance of determining the correct class during the pretrial stage follow General Telephone Co. of the Southwest v. Falcon and allow parties to …
Milberg’S Monopoly: Restoring Honesty And Competition To The Plaintiffs’ Bar, James P. Mcdonald
Milberg’S Monopoly: Restoring Honesty And Competition To The Plaintiffs’ Bar, James P. Mcdonald
Duke Law Journal
When the renowned plaintiffs' firm Milberg Weiss was indicted in 2006 for paying kickbacks to clients, most commentators saw the scandal as the product of five dishonest lawyers. This Note argues that the causes were more complex than the moral shortcomings of a few attorneys; rather, the kickbacks were but one symptom of a deeply flawed system for selecting lead counsel in securities class action lawsuits. Although the Private Securities Litigation Reform Act of 1995 attempted to curb abusive behavior by the plaintiffs' bar, its focus on reforming plaintiff behavior meant that attorneys were left relatively free to continue using …
Freedom To Defraud: Stoneridge, Primary Liability, And The Need To Properly Define Section 10(B), Travis S. Souza
Freedom To Defraud: Stoneridge, Primary Liability, And The Need To Properly Define Section 10(B), Travis S. Souza
Duke Law Journal
In Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc., the Supreme Court determined that primary liability under section 10(b) of the Securities Exchange Act does not extend to third-party actors engaged in sham transactions, even when such transactions have the purpose and effect of deceiving investors. The Court reasoned that there is no liability when an actor's deceptive conduct is not communicated directly to investors. This Note argues that the Supreme Court misinterpreted section 10(b) and Rule 10b-5 and that policy considerations weigh in favor of using securities fraud litigation to deter culpable actors. It argues both for the substantial participation …
Sec Enforcement Heuristics: An Empirical Inquiry, James D. Cox, Randall S. Thomas, Dana Kiku
Sec Enforcement Heuristics: An Empirical Inquiry, James D. Cox, Randall S. Thomas, Dana Kiku
Duke Law Journal
This Article examines the overlap between SEC securities enforcement actions and private securities fraud class actions. We begin with an overview of data concerning all SEC enforcement actions from 1997 to 2002. We find that the volume of SEC enforcement proceedings is relatively modest. We next examine the scope of the recently enacted "Fair Fund" provision that authorizes the SEC to designate civil penalties it recovers from defendants to benefit defrauded private investors. We conclude that this provision offers only limited potential relief for private investors. We complete this Part of the Article with an analysis of the serious resource …
The Scope Of Bar Orders In Federal Securities Fraud Settlements, David Kaplan
The Scope Of Bar Orders In Federal Securities Fraud Settlements, David Kaplan
Duke Law Journal
No abstract provided.
Proportionate Liability In 10b-5 Reckless Fraud Cases, Ronald A. Dabrowski
Proportionate Liability In 10b-5 Reckless Fraud Cases, Ronald A. Dabrowski
Duke Law Journal
No abstract provided.
Sophisticated Investors Under The Federal Securities Laws, C. Edward Fletcher Iii
Sophisticated Investors Under The Federal Securities Laws, C. Edward Fletcher Iii
Duke Law Journal
No abstract provided.
Arbitrability Of Claims Arising Under The Securities Exchange Act Of 1934, David L. Heinemann
Arbitrability Of Claims Arising Under The Securities Exchange Act Of 1934, David L. Heinemann
Duke Law Journal
No abstract provided.
Express Versus Automatic Assignment Of Section 10(B) Causes Of Action, David C. Profilet
Express Versus Automatic Assignment Of Section 10(B) Causes Of Action, David C. Profilet
Duke Law Journal
In Lowry v. Baltimore & Ohio Railroad, 1 the United States Court of Appeals for the Third Circuit considered whether the owner of a security may assert his seller's section 10(b) cause of action if the current owner did not receive an express assignment of the seller's rights. 2 That is, if the seller of a security has a section 10(b) claim, does the seller's cause of action "run with the security" so that the seller's purchaser takes the seller's cause of action by automatic assignment, or must the purchaser secure an express assignment of the seller's cause of action …
The Status Of Defrauded Securityholders In Corporate Bankruptcy, Kenneth B. Davis Jr.
The Status Of Defrauded Securityholders In Corporate Bankruptcy, Kenneth B. Davis Jr.
Duke Law Journal
No abstract provided.
The Alternative-Action Requirement: The Derailment Of Santa Fe, E. C. Lashbrooke Jr.
The Alternative-Action Requirement: The Derailment Of Santa Fe, E. C. Lashbrooke Jr.
Duke Law Journal
No abstract provided.