Civil Law Commons^™

Clawbacks: Prospective Contract Measures In An Era Of Excessive Executive Compensation And Ponzi Schemes, Miriam A. Cherry, Jarrod Wong

All Faculty Scholarship

In the spring of 2009, public outcry erupted over the multi-million dollar bonuses paid to AIG executives even as the company was receiving TARP funds. Various measures were proposed in response, including a 90% retroactive tax on the bonuses, which the media described as a "clawback." Separately, the term "clawback" was also used to refer to remedies potentially available to investors defrauded in the multi-billion dollar Ponzi scheme run by Bernard Madoff. While the media and legal commentators have used the term "clawback" reflexively, the concept has yet to be fully analyzed. In this article, we propose a doctrine of …

Civil Liability And Mandatory Disclosure, Merritt B. Fox

Faculty Scholarship

This Article explores the efficient design of civil liability for mandatory securities disclosure violations by established issuers. An issuer not publicly offering securities at the time of a violation should have no liability. Its annual filings should be signed by an external certifier – an investment bank or other well-capitalized entity with financial expertise. If the filing contains a material misstatement and the certifier fails to do due diligence, the certifier should face measured liability. Officers and directors should face similar liability, capped relative to their compensation but with no indemnification or insurance allowed. Damages should be payable to the …

Board Dysfunction: Dealing With The Threat Of Corporate Criminal Liability, Peter J. Henning

Law Faculty Research Publications

No abstract provided.

Rewarding Outside Directors, Assaf Hamdani, Reinier Kraakman

Michigan Law Review

While they often rely on the threat of penalties to produce deterrence, legal systems rarely use the promise of rewards. In this Article, we consider the use of rewards to motivate director vigilance. Measures to enhance director liability are commonly perceived to be too costly. We, however demonstrate that properly designed reward regimes could match the behavioral incentives offered by negligence-based liability regimes but with significantly lower costs. We further argue that the market itself cannot implement such a regime in the form of equity compensation for directors. We conclude by providing preliminary sketches of two alternative reward regimes. While …

A Complete Property Right Amendment, John H. Ryskamp

ExpressO

The trend of the eminent domain reform and "Kelo plus" initiatives is toward a comprehensive Constitutional property right incorporating the elements of level of review, nature of government action, and extent of compensation. This article contains a draft amendment which reflects these concerns.

Reassessing Damages In Securities Fraud Class Actions, Elizabeth C. Burch

ExpressO

No coherent doctrinal statement exists for calculating open-market damages for securities fraud class actions. Instead, courts have tried in vain to fashion common-law deceit and misrepresentation remedies to fit open-market fraud. The result is a relatively ineffective system with a hallmark feature: unpredictable damage awards. This poses a significant fraud deterrence problem from both a practical and a theoretical standpoint.

In 2005, the Supreme Court had the opportunity to clarify open-market damage principles and to facilitate earlier dismissal of cases without compensable economic losses. Instead, in Dura Pharmaceuticals v. Broudo, it further confused the damage issue by (1) perpetuating the …

Bond Repudiation, Tax Codes, The Appropriations Process And Restitution Post-Eminent Domain Reform, John H. Ryskamp

ExpressO

This brief comment suggests where the anti-eminent domain movement might be heading next.

Beyond Unconscionability: Class Action Waivers And Mandatory Arbitration Agreements, J. Maria Glover

Georgetown Law Faculty Publications and Other Works

We live in an age of convenience. From financial transactions to electronic correspondence, we frequently deal with large corporations that provide services in our daily lives. One of the prices we pay for the convenience of these transactions, however, is that our commercial relationships increasingly are based on standard form contracts written by large corporations. While these standard form contracts are necessary to an economically efficient society, the growing use of mandatory arbitration provisions and clauses that prohibit class actions in these contracts raises the spectre of corporate abuse.

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

ExpressO

No abstract provided.

How Low Can You Go (Down The Ladder): The Vertical Reach Of Rico, 37 J. Marshall L. Rev. 1 (2003), Scott Paccagnini

UIC Law Review

No abstract provided.

Red Owl's Legacy, Gregory M. Duhl

Faculty Scholarship

In the early 1960s, Joseph Hoffman, a high school graduate, baker and father of seven, sought to obtain a Red Owl grocery store franchise in Wisconsin. He entered into negotiations with Red Owl Stores, Inc. after the franchisor assured him that the $18,000 he had to invest in the franchise was sufficient. Over the course of the negotiations, Red Owl encouraged Hoffman to sell his bakery, buy a small grocery store to gain experience in the grocery business, sell his grocery store three months later, and move his family to the desired location for his Red Owl franchise. The negotiations …

Bitch V. Whore: The Current Trend To Define The Requirements Of An Actionable Hostile Environment Claim In Verbal Sexual Harassment Cases, 33 J. Marshall L. Rev. 465 (2000), Jamie Lynn Cook

UIC Law Review

No abstract provided.

Budweiser Or Budweiser, 32 J. Marshall L. Rev. 1251 (1999), Jitka Smith

UIC Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

Corporate Pro-Choice: New York Assumes An Anti-Takover Position, Paula Walter

Touro Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

Trademark Licensing Of Names, Insignia, Characters And Designs: The Current Status Of The Boston Pro Hockey Per Se Infringement Rule, 22 J. Marshall L. Rev. 567 (1989), John J. Voortman

UIC Law Review

No abstract provided.

University Of Richmond Law Review

University of Richmond Law Review

No abstract provided.

Cable Traffic And The First Amendment Must-Carry Under A Diversity Approach And Antitrust As Possible Alternative, Bruno Vandermeulen

LLM Theses and Essays

Recent technological progress in the field of telecommunications has greatly changed the competitive structure between broadcasters, cable operators, and telephone companies. The legal and economic environment for these media participants has shifted, and new problems have arisen. One major problem is the enhanced threat of concentration of media corporations, as corporate bigness becomes desirable and the number of diversified owners of media outlets continues to decrease. This paper analyzes broadcasting regulations and subsequent case law to show the concern by the legislature and regulatory agencies to preserve diversity in opinion and media-ownership through emphasis on “localism” and a “marketplace of …

Duldulao V. St. Mary Of Nazareth Hospital Center: Illinois Recognizes Handbook Exception To At Will Employment Relationship, 21 J. Marshall L. Rev. 657 (1988), Jill P. O'Brien

UIC Law Review

No abstract provided.

Legal Factors In The Acquisition Of A United State Corporation: Litigation By Hostile Targets, Johan E. Droogmans

LLM Theses and Essays

Acquisitions of United States corporations have become increasingly complex takeover contests, where bidders and target corporations are forced into offensive and defensive litigation strategies to protect their respective interests. Targets often assert that the bidders have violated federal or state securities laws, federal antitrust laws, federal margin regulations, federal and state regulatory systems, and federal anti-racketeering laws. These lawsuits are primarily based on the principal federal regulation of takeovers in section 14(a) of the Securities and Exchange Act of 1934 and the Williams Act. Target litigation is customary, but entails certain disadvantages; a lawsuit rarely stops an offer, is expensive, …

Civil Procedure - Process - Amendment When A Partnership Is Served As A Corporation, Donald W. Shaffer

Michigan Law Review

Plaintiff instituted a negligence action for personal injuries by serving a summons and complaint on one Moriarty as an officer of Moriarty Manufacturing Company, intending thereby a substituted service on this company. Plaintiff believed the named firm to be a corporation, but it was in fact a partnership of which Moriarty was a member. There was no appearance or answer. Two and one-half years after the initial service, an amended summons and complaint were served on all of the partners. In answer, defendants pleaded a two-year statute of limitations and moved for a summary judgment, which was granted. On appeal, …

Corporations - Shareholders - Right To Bring Derivative Action For Treble Damages Under Antitrust Laws, William K. Davenport S.Ed.

Michigan Law Review

Plaintiff, owner of 50 percent of the stock in a theater corporation, brought a derivative action in federal court for treble damages for loss of profits allegedly suffered from defendant's violation of the antitrust laws. The district court sustained defendant's motion to dismiss. On appeal to the court of appeals, held, reversed and remanded. Under the new federal rules, a stockholder may bring a derivative action for treble damages under the antitrust laws. Fanchon & Marco, Inc. v. Paramount Pictures, Inc., (2d Cir. 1953) 202 F. (2d) 731.

Code Civil Suisse Y Compris Le Code Fédéral Des Obligations, Virgile Rossel

Civil Codes (1800-1923)

Édition annotée renfermant en outre les complémentaires (loi féd. du 25 Juin 1891, conventions internationales, ordonnances et arrêtés des autorités fédérales, etc.), ainsi que des notes explicatives, de la jurisprudence, la conférence des articles, des renvois aux textes correspondants des Codes français et allemands, aux messages du Conseil fédéral, a l"Expose des motifs et au Bulletin sténographique des Chambres fédérales, etc.

3a. édition, revue et considérablement augmentée.