Law Commons^™

Market Intermediation, Publicness, And Securities Class Actions, Hillary A. Sale, Robert B. Thompson

Georgetown Law Faculty Publications and Other Works

Securities class actions play a crucial, if contested, role in the policing of securities fraud and the protection of securities markets. The theoretical understanding of these private enforcement claims needs to evolve to encompass the broader set of goals that underlie the securities regulatory impulse and the publicness of those goals. Further, a clear grasp of the modern securities class action also requires an updated understanding of how the role of market intermediation in securities transactions has reshaped the realities of securities litigation in public companies and the evolution of the fraud cause of action in the context of open-market …

Merger Is Indirect Gift In Cavallaro, Kerry A. Ryan

All Faculty Scholarship

In Cavallaro v. Commissioner, the Tax Court held that a merger of two family-owned businesses resulted in a substantial taxable gift. The taxpayers avoided penalties by demonstrating that they relied in good faith on the mistaken advice of competent tax advisers.

Competition Policy And Free Trade: Antitrust Provisions In Ptas, Anu Bradford, Tim Büthe

Faculty Scholarship

Trade agreements increasingly contain provisions concerning ‘behind-the-border’ barriers to trade, often beyond current World Trade Organization (WTO) commitments (Dur, Baccini and Elsig 2014). Today’s preferential trade agreements (PTAs) may include, for instance, rules regarding ‘technical’ barriers to trade that go beyond the WTO’s Agreement on Technical Barriers to Trade (TBT Agreement), accelerating the replacement of differing national product safety standards with common international standards and thus reducing the trade-inhibiting effect of regulatory measures (Buthe and Mattli 2011; World Trade Organization 2012). Today’s PTAs may also go beyond WTO rules in prohibiting preferences for domestic producers in government procurement (Arrowsmith and …

The Panopticon Of International Law: B’Tselem’S Camera Project And The Enforcement Of International Law In A Transnational Society, Pini Pavel Miretski, Sascha-Dominik Vladimir Oliver Bachmann

Osgoode Hall Law Journal

This paper analyzes the influence of transnational non-state actors on compliance with international legal rules as part of Michel Foucault’s power/knowledge structure. In particular, it examines the effects of the Shooting Back project, organized by the Israeli non-governmental organization B’Tselem, on the level of investigations of alleged violations of the law of occupation. In 2007, B’Tselem supplied Palestinians living in high-conflict areas with video cameras in order to capture, expose, and “seek redress for” human rights violations in the Occupied Territories. According to Jeremy Bentham’s principles of panopticism, power should be visible and unverifiable. The implementation of these principles by …

Touching Torture With A Ten-Foot Pole: The Legality Of Canada’S Approach To National Security Information Sharing With Human Rights-Abusing States, Craig Forcese

Osgoode Hall Law Journal

In 2011, then-Public Safety Minister Vic Toews issued “ministerial directions” to Canada’s key security and intelligence agencies on “Information Sharing with Foreign Entities.” These directions permit information sharing in exigent circumstances, even where there is substantial risk of mistreatment of an individual. After a brief chorus of condemnation, the directions sank into relative obscurity while remaining part of Canada’s national security policy framework. This article aims to reignite discussion of these policies and their controversial content, relying in large measure on documents obtained by the author directly or through journalistic researchers under access to information law. First, I examine dilemmas …

Taxation And Inequality In Canada And The United States: Two Stories Or One?, Richard M. Bird, Eric M. Zolt

Osgoode Hall Law Journal

Canada and the United States have both experienced a substantial increase in income inequality over the last several decades. In this article, we examine the complex interaction of income inequality with tax and transfer systems in Canada and the United States. We begin by comparing the data on taxation and expenditure to understand the similarities and differences between the two countries. We then consider how changes to tax and transfer policies have affected the levels of inequality in both countries. The article concludes by offering some policy recommendations that each country may consider to address the increasing levels of inequality.

Tax Law Within The Larger Legal System, J. Scott Wilkie, Peter W. Hogg

Osgoode Hall Law Journal

Tax law may be viewed as occupying its own universe, even though tax funds the implementation of public policies that animate Canadian society. This article reminds us that tax law must respond to basic rule-of-law norms in spite of overarching and well-meaning policy goals. It adopts reference points featured in recent cases. One is the Charter, which limits penalties that can be imposed on non-compliant taxpayers and tax advisers without adhering to due process safeguards. Another is the impact of international arrangements among countries in a global business environment to guide consistent regulatory responses and to identify and share information. …

What Kind Of Corporation Tax Regime?, Sijbren Cnossen

Osgoode Hall Law Journal

This article explores the taxation of corporations in the wider context of capital income taxation. The article discusses pros and cons of various income-based and cash-flow forms of corporation tax (CT) and concludes that the dual income tax (DIT), which taxes all capital income at the proportional CT rate, is to be preferred over other forms of taxing capital income. The DIT is best attuned to the reality of capital mobility and is not held hostage by the higher tax on labour income. Levied at a uniform flat rate, the DIT minimizes opportunities for tax arbitrage.

Intimate Partner Criminal Harassment Through A Lens Of Responsibilization, Isabel Grant

Osgoode Hall Law Journal

Feminist scholars have demonstrated the gendered nature of intimate violence and the tendency to put the responsibility on women to avoid both sexual and physical violence (“responsibilization”). This article applies these insights to the context of intimate partner criminal harassment, which is committed overwhelmingly by men against former female intimate partners. Using criminal harassment decisions over the past decade, this article argues that the elements of the offence—specifically the requirements that the accused cause the complainant to fear for her safety, that this fear be reasonable, and that he intend to harass her—feed into the tendency towards responsibilization. Women are …

Substantive Equality As Equal Recognition: A New Theory Of Section 15 Of The Charter, Anthony Robert Sangiuliano

Osgoode Hall Law Journal

This article presents a novel theory of the concept of substantive equality under section 15(1) of the Canadian Charter of Rights and Freedoms called Substantive Equality as Equal Recognition. This contribution is timely in light of the Supreme Court of Canada’s recent disagreement over the proper jurisprudential approach to interpreting section 15(1) in the 2013 case of Quebec v A. Substantive Equality as Equal Recognition holds that the purpose of section 15(1) is to ensure that the law’s application does not reflect, through its impact or effects, hierarchies of status that exist between citizens within Canadian society. The article argues …

Privacy And Competing Library Goals: How Can Library Directors Lead When Values Collide?, Anne Klinefelter

Faculty Publications

No abstract provided.

Non-Exclusive Adoption And Child Welfare, Joshua Gupta-Kagan

Faculty Scholarship

This Article proposes that child welfare law permit the non-exclusive adoption of foster children who cannot reunify with their parents — that is, adoption by foster parents without severing children’s legal relationships with their biological parents. Present law imposes a choice: extended family members or other foster parents may adopt foster children exclusively — and terminate the legal relationship between the child and biological parents — or they may become guardians — which preserves parent–child relationships but denies foster parents the legal title of “parent,” even when they are long-term primary caretakers.

Non-exclusive adoption would respect the lived reality of …

An Introduction: Adapting To A Rapidly Changing World, Monica Hakimi, Natalie L. Reid, Samuel Witten

Faculty Scholarship

The 2015 American Society of International Law (ASIL) Annual Meeting aimed to assess how international law is and should be adapting to the profound global changes that are now underway. The Meeting took place against a dramatic backdrop of events: the rapid expansion of the so-called Islamic State in Syria and Iraq; a security and refugee crisis in the Middle East; escalating conflict in Eastern Ukraine and Crimea; an Ebola crisis in West Africa; and the build-up to a widely anticipated round of negotiations on climate change. These and similar geopolitical developments raise serious questions about the continued relevance and …

Introduction: Toward Voice And Reflexivity, Olivier De Schutter, Katharina Pistor

Faculty Scholarship

In their introductory chapter, De Schutter and Pistor argue that in light of increasing absolute and relative scarcity of land and fresh water there is urgent need to improve the governance of these and other essential resources. Emphasizing “essentiality” shifts the debate from allocative efficiency to normative concerns of equity and dignity. Essential resources are indispensable for survival and/or for meaningful participation in a given community. Their allocation therefore cannot be left to the pricing mechanism alone. It requires new parameters for governance. The authors propose Voice and Reflexivity as the key parameters of such a regime. Voice is …

Presidential Control Across Policymaking Tools, Catherine Y. Kim

Faculty Publications

No abstract provided.

Putting Disclosure To The Test: Toward Better Evidence-Based Policy, Talia B. Gillis

Faculty Scholarship

Financial disclosures no longer enjoy the immunity from criticism they once had. While disclosures remain the hallmark of numerous areas of regulation, there is increasing skepticism as to whether disclosures are understood by consumers and do in fact improve consumer welfare. Debates on the virtues of disclosures overlook the process by which regulators continue to mandate disclosures. This article fills this gap by analyzing the testing of proposed disclosures, which is an increasingly popular way for regulators to establish the benefits of disclosure. If the testing methodology is misguided then the premise on which disclosures are adopted is flawed, leaving …

Halliburton Ii: It All Depends On What Defendants Need To Show To Establish No Impact On Price, Merritt B. Fox

Faculty Scholarship

Rule 1Ob-5 private damages actions cannot proceed on a class basis unless the plaintiffs are entitled to the fraud-on-the-market presumption of reliance. In Halliburton II, the Supreme Court provides defendants with an opportunity, before class certification, to rebut the fraud-on-the-market presumption through evidece that the misstatement had no effect on the issuer's share price. It left unspecified, however, the standard by which the sufficiency of this evidence should be judged.

This Article explores the two most plausible approaches to setting this standard. One approach would be to impose the same statistical burden on defendants seeking to show there was …

Recent Developments In Administrative Law: The Tremors Of Two March 9, 2015 Supreme Court Decisions, Part I: Perez, Peter L. Strauss

Faculty Scholarship

Two decisions of the United States Supreme Court announced March 9, unanimous in reversing what had been surprising and potentially disruptive administrative law decisions by the United States Court of Appeals for the D.C. Circuit, could themselves portend rather striking changes in American administrative law. This essay considers Perez v. American Mortgage Bankers, which both overstates Vermont Yankee Nuclear Power Corp, Inc. v. Natural Resources Defense Council, Inc. and invites reconsideration of so-called Auer deference. (See p. 12 below for analysis of Department of Transportation v. Association of American Railroads.)

The (Perhaps) Unintended Consequences Of King V. Burwell, Kristin E. Hickman

Articles

This Essay was written for a symposium entitled "The Implications of King v. Burwell on Judicial Deference to IRS Interpretations." The Supreme Court's decision in King surprised many people, not because of its outcome but because, even as the Court ultimately agreed with the IRS's interpretation of the statute, the Court expressly denied the IRS Chevron deference. My assessment of King v. Burwell has three points. First, the Chevron discussion in King was not incidental, but the IRS and taxes were not foremost on the Court's mind. Rather, King reflects a careful effort by Chief Justice Roberts to accomplish, through …

No Reason To Blame Liberals (Or, The Unbearable Lightness Of Perversity Arguments), Margo Schlanger

Reviews

In addition to the current extraordinary number of people behind American bars, the other key feature of our current carceral state is the very high concentration of non-whites in that population. That concentration of non-whites has grown significantly since the 1960s, when whites constituted nearly two thirds of American prison population; today, they are only a bit over one-third. Since 72% of Americans are white, the distinction in terms of incarceration rate is far more stark: among white men, the current imprisonment rate (counting only sentenced prisoners) is 4.7/1000; among Latino men it is two-and-a-half times that (11.3/1000); and among …

Review Of Sovereign Defaults Before International Courts And Tribunals, John A. E. Pottow, Emily Iversen

Reviews

This book review probes Michael Waibel’s new book, Sovereign Defaults Before International Courts and Tribunals. Waibel's project is ambitious, exploring international attempts to address sovereign defaults over the past century and a half. Through painstaking and comprehensive historical analysis, Waibel shows how we've been here before -- a sober reminder for those thinking Argentina is simply part of a new fad in financial default. With the UN now turning its attention to sovereign debt issues, this study is especially timely. Although somewhat disappointing in the lightness of its normative content, the book should nevertheless prove helpful to those considering the …

The Rise And Fall Of The Consumption Tax, Reuven S. Avi-Yonah

Articles

The year 1974 was an eventful one in U.S. history. For the first time, a president resigned under threat of impeachment. Watergate and the Vietnam War shook Americans’ faith in their government. The economy was reeling from the first oil embargo, and the United States’ prospects seemed bleak. In that context, Professor William Andrews of Harvard Law School published an article that would revolutionize tax scholarship. Against the backdrop of widespread dissatisfaction with the government in general and the income tax in particular, Andrews suggested replacing the income tax with a consumption tax. That suggestion was ironic for anyone familiar …

Who Invented The Single Tax Principle?: An Essay On The History Of Us Treaty Policy, Reuven S. Avi-Yonah

Articles

In 1997, I wrote an article on the international tax challenges posed by the then-nascent electronic commerce, in which I suggested that the international tax regime is based on two principles: the benefits principle and the single tax principle. The benefits principle states that active (business) income should be taxed primarily by the country of source, and passive (investment) income should be taxed primarily by the country of residence. This is the famous compromise reached by the four economists at the foundation of the regime in 1923 and is not particularly controversial. It is embodied in every one of the …

Taking Public Access To The Law Seriously: The Problem Of Private Control Over The Availability Of Federal Standards, Nina A. Mendelson

Articles

In the 1930s, Harvard professor Erwin Griswold famously complained about the enormous numbers of New Deal regulations that were obscurely published on individual sheets or in “separate paper pamphlets.” Finding these binding federal rules was difficult, leading to “chaos” and an “intolerable” situation. Congress responded, requiring that agencies publish all rules in the Federal Register and in the Code of Federal Regulations (CFR). Currently, recent federal public laws, the entire U.S. Code, the Federal Register, and the CFR are all freely available online as well as in governmental depository libraries. But with respect to thousands of federal regulations, the clock …

Comparative Jury Procedures, Kenneth S. Klein

Faculty Scholarship

The literature considering various possible procedural reforms to United States jury trial practice suffers from a high dose of American Exceptionalism. The experience of other nations rarely is acknowledged, much less considered as possibly informative. This Article argues that as a British-derived system of roughly identical vintage as the United States, the jury practices of Malta can inform American practice in three respects: (1) the desirability of increased juror interaction – in particular allowing oral juror questions to witnesses and allowing deliberation during the trial, (2) the utility of eliminating voir dire in jury selection, and (3) the possibility of …

Table Of Contents, Public Interest Law Reporter

Public Interest Law Reporter

No abstract provided.

The Vaccination Debate: From The Playground To The Courtroom, Michelle Corda

Public Interest Law Reporter

No abstract provided.

"Reparations Now!": Municipal Reparations, International Tribunals, And The Chicago Torture Justice Memorials Campaign, Nickolas Kaplan

Public Interest Law Reporter

No abstract provided.

Does America Care About Mental Health Care?, Zainab Mehkeri

Public Interest Law Reporter

No abstract provided.

Coop Businesses: Ownership For The Disowned, Tyler Gurss

Public Interest Law Reporter

No abstract provided.