Transnational Law Commons^™

Voting Matters: Materiality Considerations And The Shareholder Vote, Renee M. Jones

Seattle University Law Review

For the shareholder franchise to have meaning, shareholders must have access to relevant information to inform their voting decisions. The securities laws’ disclosure requirements play an essential role in informing the shareholder vote.

This Essay focuses on the question of the materiality of information in the context of shareholder voting. It addresses the question of whether ESG-related information is material, positioning the materiality inquiry within the context of shareholders’ voting decisions. It explores the definition of materiality with a focus on the “reasonable investor” concept embedded within the definition. The Essay argues that the implicit expectations of many commentators that …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

An Introduction To U.S. Groundwater Law: Domestic And Transboundary Considerations, Caleb Cook, Gabriel Eckstein

Faculty Scholarship

In light of the scientific and historical factors that have shaped the development of groundwater law and policy, this chapter seeks to provide a primarily descriptive account of its current state in the United States and to lay a foundation for future efforts to address gaps in the regime. Section 8B.02 considers the importance of groundwater in modern American society, with a particular focus on its uses and the threats these resources face. Section 8B.03 describes the U.S. framework for the domestic governance of groundwater resources. Section 8B.04 describes the mechanisms for transboundary governance of groundwater between the United States …

Water, Rosario Sanchez, Gabriel E. Eckstein

Faculty Scholarship

As the new US administration begins its term in January 2025, its ability to address complex, interconnected challenges will shape the future of US-Mexico relations. From economic cooperation and migration to shared security concerns, the new president’s leadership will be pivotal in navigating these critical issues and strengthening bilateral ties between Mexico and the United States. Effective collaboration will be vital to building a more prosperous and stable North America.

To support this effort, the Wilson Center’s Mexico Institute has prepared a comprehensive booklet as a practical roadmap for the incoming administration. This publication offers actionable recommendations across six priority …

The Loss & Damage Fund: Will It Leave Greenland Behind?, Natalie L. Nowatzke

Ocean and Coastal Law Journal

The United Nations Framework Convention on Climate Change (UNFCCC) maintains three pillars of international climate governance: (1) mitigation, (2) adaptation, and (3) loss and damage. Loss and damage, the newest pillar, refers to the negative effects of climate change that transpire despite mitigation and adaptation measures. This notion has manifested into the newly operationalized Loss and Damage Fund, which is designed to compensate developing nations for the losses and damages that occur. This Comment identifies a gap in the Loss and Damage Fund, which will leave Greenland left out of receiving compensation, despite being extremely vulnerable to climate change, because …

Climate Change In Arctic And Indigenous Peoples: Challenges And Solutions, Vera Solovyeva

Ocean and Coastal Law Journal

Climate change poses a serious threat to human well-being, negatively affecting health, traditional environmental management, water supply and food security. Changes in the environment are exacerbating indigenous peoples' problems. This is especially relevant to those who lead traditional lifestyles and whose well-being depends on agricultural and livestock production. This Article addresses the challenges and potential solutions to climate change in the Arctic ecosystem, including the Sub-Arctic regions. Physical changes to the landscape are examined alongside impacts on Indigenous culture and identity. In addition, the article explains the importance of Indigenous knowledge, values, and ethics in developing successful adaptation strategies. In …

Indigenous Peoples As A Tool For Russia's International Publicity In The Arctic Region, Pavel Sulyandziga, Dmitry Berezhkov

Ocean and Coastal Law Journal

The Arctic region is strategically significant with its economic activity, resources, and its Indigenous populations. Russia has recognized the significance of the Indigenous peoples living in the Arctic and has fueled its international publicity by using these peoples as a tool for public relations. The colonizing of these regions and the strategic use of propaganda by the Russian government weaves a complicated tale—one in which the Russian administration voices support for the Indigenous populations while removing protections for these same peoples.

Strategic Minerals And The U.S. Arctic Continental Shelf, James Kraska

Ocean and Coastal Law Journal

The United States may seek to reduce its dependency on China for strategic minerals and rare earth elements by exploiting deposits on its continental shelf in the Arctic region. On December 19, 2023, the United States announced the outer limits of it extended continental shelf. Like other countries, the United States exercises sovereign rights and jurisdiction over the living and non-living resources of the continental shelf, which is comprised of the sea bed and subsoil of the continental margin. The U.S. continental shelf extends beyond 200 nautical miles in seven locations, including the Bering Sea and Arctic Ocean. Although the …

Russia's Arctic Maritime Claims, Raul Pete Pedrozo

Ocean and Coastal Law Journal

As an Arctic State, Russia has extensive maritime claims in the Arctic Ocean. This Article analyzes those claims to determine their consistency with international law. A brief overview of the applicable legal regime in the Arctic is provided, in particular, a discussion of Article 234 of the United Nations Convention on the Law of the Sea (UNCLOS), applicability of the mandatory Polar Code adopted by the International Maritime Organization in 2017, and the various legally binding agreements adopted by the Arctic Council. The Article will also review Russia’s maritime boundary agreements with the United States (1990), which is being provisionally …

The Public Order Of The Arctic: Problems And Prospects, Charles H. Norchi

Ocean and Coastal Law Journal

No abstract provided.

Conservation Co-Governance As A Cure: Investigating Aotearoa New Zealand's Conservation Co-Governance Model As A Blueprint For Restoring Navajo Sovereignty In Managing Canyon De Chelly, Shana R. Herman

Villanova Environmental Law Journal (1991 - )

No abstract provided.

The Mysterious Case Of The Attacks Against The Halifax Public Gardens: The Enclosure Of "Common" Property , Public Access To Nature, And Sustainability In The City, Dr. Sara Gwendolyn Ross

Villanova Environmental Law Journal (1991 - )

No abstract provided.

Participation In Paradise?: Indigenous Participation And Environmental Decisionmaking In HawaiʻI, Lindsay Peterson

American Indian Law Journal

No abstract provided.

Digital Allotment And Vanishing Indians: Idsov And Llms, Sam Mcveety

American Indian Law Journal

No abstract provided.

How Redistricting Affects Native Representation: The Turtle Mountain Band Of Chippewa, Ryland Mahre

American Indian Law Journal

No abstract provided.

Pursuing The Exemption: The Makah's White Whale, Sarah Van Voorhis

Washington Journal of Social & Environmental Justice

No abstract provided.

Many Miles To Go Before We Sleep: The Long Road To Creating A Comprehensive Global Plastics Treaty, Dr. Gerry Nagtzaam

Villanova Environmental Law Journal (1991 - )

No abstract provided.

Henderson And The Objective Observer Standard: The Future Of Race-Conscious Standards Post-Students For Fair Admissions, Gabriela Dionisio

Seattle University Law Review

On June 29, 2023, the Supreme Court of the United States decided Students for Fair Admissions v. President & Fellows of Harvard College, which struck down race-conscious admissions policies. Within just a year after its ruling, Students for Fair Admissions has already had a sweeping impact, reaching beyond higher education. Although the Supreme Court did not indicate whether Students for Fair Admissions applies to sectors beyond higher education, law firms, and other employers have already modified their diversity policies and initiatives, erasing race and company diversity considerations. Given those dramatic changes, there is growing fear that Students for Fair Admissions …

Same Crime, Different Time: Sentencing Disparities In The Deep South & A Path Forward Under The Fourteenth Amendment, Hailey M. Donovan

Seattle University Law Review

The United States has the highest incarceration rate of any country in the world. The American obsession with crime and punishment can be tracked over the last half-century, as the nation’s incarceration rate has risen astronomically. Since 1970, the number of incarcerated people in the United States has increased more than sevenfold to over 2.3 million, outpacing both crime and population growth considerably. While the rise itself is undoubtedly bleak, a more troubling truth lies just below the surface. Not all states contribute equally to American mass incarceration. Rather, states have vastly different incarceration rates. Unlike at the federal level, …

Public Primacy In Corporate Law, Dorothy S. Lund

Seattle University Law Review

This Article explores the malleability of agency theory by showing that it could be used to justify a “public primacy” standard for corporate law that would direct fiduciaries to promote the value of the corporation for the benefit of the public. Employing agency theory to describe the relationship between corporate management and the broader public sheds light on aspects of firm behavior, as well as the nature of state contracting with corporations. It also provides a lodestar for a possible future evolution of corporate law and governance: minimize the agency costs created by the divergence of interests between management and …

Robo-Voting: Does Delegated Proxy Voting Pose A Challenge For Shareholder Democracy?, John Matsusaka, Chong Shu

Seattle University Law Review

Robo-voting is the practice by an investment fund of mechanically voting in corporate elections according to the advice of its proxy advisor— in effect fully delegating its voting decision to its advisor. We examined over 65 million votes cast during the period 2008–2021 by 14,582 mutual funds to describe and quantify the prevalence of robo-voting. Overall, 33% of mutual funds robo-voted in 2021: 22% with ISS, 4% with Glass Lewis, and six percent with the recommendations of the issuer’s management. The fraction of funds that robo-voted increased until around 2013 and then stabilized at the current level. Despite the sizable …

The Limits Of Corporate Governance, Cathy Hwang, Emily Winston

Seattle University Law Review

What is the purpose of the corporation? For decades, the answer was clear: to put shareholders’ interests first. In many cases, this theory of shareholder primacy also became synonymous with the imperative to maximize shareholder wealth. In the world where shareholder primacy was a north star, courts, scholars, and policymakers had relatively little to fight about: most debates were minor skirmishes about exactly how to maximize shareholder wealth.

Part I of this Essay discusses the shortcomings of shareholder primacy and stakeholder governance, arguing that neither of these modes of governance provides an adequate framework for incentivizing corporations to do good. …

The Pioneers, Waves, And Random Walks Of Securities Law In The Supreme Court, Elizabeth Pollman

Seattle University Law Review

After the pioneers, waves, and random walks that have animated the history of securities laws in the U.S. Supreme Court, we might now be on the precipice of a new chapter. Pritchard and Thompson’s superb book, A History of Securities Law in the Supreme Court, illuminates with rich archival detail how the Court’s view of the securities laws and the SEC have changed over time and how individuals have influenced this history. The book provides an invaluable resource for understanding nearly a century’s worth of Supreme Court jurisprudence in the area of securities law and much needed context for …

Three Stories: A Comment On Pritchard & Thompson’S A History Of Securities Laws In The Supreme Court, Harwell Wells

Seattle University Law Review

Adam Pritchard and Robert Thompson’s A History of Securities Laws in the Supreme Court should stand for decades as the definitive work on the Federal securities laws’ career in the Supreme Court across the twentieth century.1 Like all good histories, it both tells a story and makes an argument. The story recounts how the Court dealt with the major securities laws, as well the agency charged with enforcing them, the Securities and Exchange Commission (SEC), and the rules it promulgated, from the 1930s into the twenty-first century. But the book does not just string together a series of events, “one …

On The Value Of History: A Review Of A.C. Pritchard & Robert B. Thompson’S A History Of Securities Law In The Supreme Court, Joel Seligman

Seattle University Law Review

A.C. Pritchard and Bob Thompson have written a splendid history of securities law decisions in the Supreme Court. Their book is exemplary because of its detailed use of the long unpublished papers of Supreme Court justices, including those of Harry Blackmun, William O. Douglas, Felix Frankfurter and Lewis F. Powell, primary sources which included correspondence with other Justices and law clerks as well as interviews with law clerks. The use of these primary sources recounted throughout the text and 67 pages of End Notes deepens our understanding of the intentions of the Justices and sharpens our understanding of the conflicts …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

Memories Of An Affirmative Action Activist, Margaret E. Montoya

Seattle University Law Review

Some twenty-five years ago, the Society of American Law Teachers (SALT) led a march supporting Affirmative Action in legal education to counter the spate of litigation and other legal prohibitions that exploded during the 1990s, seeking to limit or abolish race-based measures. The march began at the San Francisco Hilton Hotel, where the Association of American Law Schools (AALS) was having its annual meeting, and proceeded to Union Square. We, the organizers of the march, did not expect the march to become an iconic event; one that would be remembered as a harbinger of a new era of activism by …

Defeat Fascism, Transform Democracy: Mapping Academic Resources, Reframing The Fundamentals, And Organizing For Collective Actions, Francisco Valdes

Seattle University Law Review

The information we gathered during 2021–2023 shows that critical faculty and other academic resources are present throughout most of U.S. legal academia. Counting only full-time faculty, our limited research identified 778 contacts in 200 schools equating to nearly four contacts on average per school. But no organized critical “core” had coalesced within legal academia or, more broadly, throughout higher education expressly dedicated to defending and advancing critical knowledge and its production up to now. And yet, as the 2021–2022 formation of the Critical (Legal) Collective (“CLC”) outlined below demonstrates, many academics sense or acknowledge the need for greater cohesion among …