Business Organizations Law Commons^™

Dissenting Shareholders' Statutory Right To Fair Cash Value, Michael G. Schinner

Akron Law Review

On October 30, 1981, the opening salvo in what became "the largest action for relief to dissenting shareholders in the judicial history of Ohio" was launched.' It took six long years for the smoke to clear, but by elucidating a theoretically and practicably cogent analysis of the Ohio appraisal statute, the Armstrong case has provided plentiful ammunition for the lower courts in Ohio to combat the inevitable onslaught of dissenting shareholders resulting from the proliferation of corporate takeovers.

Southern States Chemical Inc., Order On Motions For Summary Judgment, Alice D. Bonner

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Subchapter C Reform Of Mergers And Acquisitions After General Utilities: Now What Is Congress Waiting For?, John R. Mcgowan

Akron Law Review

One of the latest and most comprehensive studies in this area was released on May 20, 1985 as the final report of the Senate Finance Committee.' This proposal, called the "Subchapter C Revision Act of 1985," represents perhaps the largest examination of the fundamental rules in the Internal Revenue Code relating to the Federal income taxation of corporations and their investors. In this study, numerous proposals were very favorably received, among them were the proposals covering mergers and acquisitions (M & A). For example, the Treasury Department stated: "[the acquisitions] proposals have substantial merit in that they provide greater consistency …

Trending @ Rwulaw: Ed Weiss's Post: From The Red Sox Gc: Knowing The Law, Knowing The Business, Weiss Ed

Law School Blogs

No abstract provided.

Procuring Trial Testimony From Corporate Officers And Employees: Alternative Methods And Suggestions For Reform, Richard J. Oparil

Akron Law Review

This article discusses the situation under the current Federal Rules of Civil Procedure, including some alternative methods of obtaining testimony at trial. The article then discusses various ways the problem could be solved through rule changes to help ensure live trial testimony by corporate officials.

Kayser-Roth, Joslyn, And The Problem Of Parent Corporation Liability Under Cercla, James A. King

Akron Law Review

This article examines these issues by focusing on the responsibility of parent corporations as "owners" and as "operators" under section 107 of CERCLA. The scope of the analysis is limited to corporations that participate in the management of other corporations. Moreover, for the sake of simplicity, the reach of the analysis is limited to the situation in which a corporation owns one hundred percent of the stock of the subsidiary.

Part I provides a general overview of the principle of limited shareholder liability as it applies to parent corporations and of its economic underpinnings. Part II reviews judicial applications of …

Gerber Products Co. Order On Defendant's Motion To Dismiss, Alice D. Bonner

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Beyond Crosby V. Beam: Ohio Courts Extend Protection Of Minority Stockholders Of Close Corporations, Kathleen L. Kuhlman

Akron Law Review

This Comment explores the possible ramifications of viewing working minority shareholders as term employees on both close corporation law and at-will-employment law in Ohio. Part I discusses the background and emergence of the heightened fiduciary duty owed by the majority stockholders to the minority stockholders in closely held corporations and the resultant protection of the minority. Part II discusses the current standing of the employment at-will doctrine and what protections exist for at-will employees in Ohio. Part III examines recent Ohio case law that compares close corporation employment with at-will-employment and analyzes the courts' reasoning behind creating a new exception …

Law Firm Ownership Of Ancillary Businesses In Ohio - A New Era?, Stephen R. Ripps

Akron Law Review

The seeds of controversy about ancillary businesses were planted in 1983 when the American Bar Association's House of Delegates approved Model Rule 5.4 prohibiting non-lawyer participation in law firm businesses. Ohio has adopted the ABA Code of Professional Responsibility, not the Model Rules, but the Model Rules may nevertheless have an impact on the interpretation and development of ethical guidelines in Ohio and other Code states. In order to determine the status of ancillary businesses in Ohio today, analysis must proceed in this dual context.

Ohio Upholds Traditional Exception To General Rule Of Corporate Successor Nonliability, David R. Langdon

Akron Law Review

The purpose of this Note is to carefully analyze the Ohio Supreme Court's reasoning in Welco and its implications. Part II discusses corporate successor liability in general, and then focuses narrowly on the mere continuation exception to successor nonliability. Part III breaks down the case itself, presenting the facts, procedure, and reasoning of the majority and dissent. Finally, Part IV analyzes the court's refusal to expand the mere continuation exception, suggesting that had the court chosen to expand the the exception, the advantages of a cash-for-assets acquisition in Ohio would have been lost.

Attorney General's Warning: Legislation May Now Be Hazardous To Tobacco Companies' Health, Scott Richardson

Akron Law Review

Part I examines the significant aspects of the revised Florida statute and the proposed federal Senate bill. Part II reviews the development and current status of the laws in Florida, Ohio, and federal courts in regards to the toxic tort theories included in the legislation. Part III of this Comment provides a review of the judicial treatment of tobacco cases and past legislative actions toward tobacco. Part IV discusses the due process challenge that could be advanced by the tobacco industry. Finally, Part V concludes with predictions as to the likely success the Medicaid Third-Party Act will have in achieving …

United States V. O'Hagan: Rule 10b-5, The "Judicial Oak Which Has Grown From Little More Than A Legislative Acorn," And The Antifraud Legislation Of The Securities And Exchange Act Of 1934., Joseph J. Urgese

Akron Law Review

The Supreme Court has addressed the perplexing labyrinth of securities fraud since the enactment of the Securities and Exchange Acts of 1933 and 1934 ("Exchange Act"). In 1976, the president of a small brokerage firm induced customers to invest in fictitious escrow accounts, promising high yields to shareholders. The following year, majority shareholders of a Delaware lumber company instituted a merger based on what the minority shareholders deemed a fraudulent appraisal of the company's assets. In 1980, a financial printer profited from his purchase and subsequent sale of shares in companies targeted for corporate takeovers.

Part II of this Note …

A.E. Staley Maunufacturing Co. V. Commissioner: Life After Indopco: Tax Treatment Of A Target Corporation's Unsuccessful Hostile Tender Offer Defense Fees, Corinne E. Anderson

Akron Law Review

One specific concern was whether the INDOPCO decision represented a per se rule that takeover-related expenses must always be capitalized. The recent Seventh Circuit decision of A.E. Staley Manufacturing Co. v. Commissioner appears to have answered this question in the negative. In Staley, the Court of Appeals held that the majority of investment banker fees paid in an unsuccessful attempt to defeat a hostile tender offer were deductible as "ordinary and necessary" business expenses. Alternatively, those expenses allocable to the company's unsuccessful efforts to engage in alternate transactions were deductible as "abandoned transactions. ' However, fees paid by Staley to …

Taxation Of Prepaid Tuition Plans And The 1997 Tax Provisions - Middle Class Panacea Or Placebo? Continuing Problems And Variations On A Theme, Eric A. Lustig

Akron Law Review

This article addresses the continuing tax issues and policies attendant to one form of financing the costs of higher education -- prepaid tuition plans. These plans generally allow one to purchase tuition in advance for future use. One attraction of such a plan is that the purchaser can lock in tuition at present rates, thus protecting against inflation and other tuition hikes. Moreover, favorable tax treatment exists as the build up of benefits is generally tax-free to the purchaser, which provides a significant advantage over other savings programs. Although prepaid tuition plans have been in existence for a number of …

Does Corporate Law Matter? Legal Capital Restrictions On Stock Distributions, Craig A. Peterson, Norman W. Hawker

Akron Law Review

This paper consists of five sections, including this introduction. The background section of this article consists of several parts. First, we provide an historical overview of the legal capital doctrines restricting dividends. Second, we briefly summarize and illustrate six basic types of state statutory restrictions on dividends and other distributions to shareholders. Third, we examine the criticisms of legal capital that has led many states to abandon the use of concepts like stated capital and surplus to restrict financial distributions to shareholders. Fourth, a discussion of the generally accepted accounting principles ("GAAP") and mechanics of legal capital and stock distributions …

Achieving The Purpose Of Federal Diversity Jurisdiction: Why Courts Should Abandon The Current Treatment Of Llcs Under Section 1332, Kristen Curley

Touro Law Review

No abstract provided.

A Look At The Publication Requirement In New York Limited Liability Company Law, Matthew J. Moisan

Touro Law Review

No abstract provided.

The New York Llc Act At Twenty: Is Piercing Still “Enveloped In The Midst Of Metaphor”?, Miriam R. Albert

Touro Law Review

No abstract provided.

The Ipo Crisis: Title I Of The Jobs Act And Why It Does Not Go Far Enough, Brian Howaniec

Pepperdine Law Review

This Comment explores the brewing controversy over Title I and assesses the actual impact that it is having (and will have) on investor protection and the IPO market. This Comment argues that Title I has the ability to affect both, but, due to factors outside of Congress's control, will likely have only a minimal effect on either. Part II discusses the objectives of investor protection legislation and how previous legislation regulated the financial markets. Part III explains how these regulations have been changed for emerging growth companies under Title I. Part IV examines what impact Title I will have on …

Unintended Consequences Of The Fourteenth Amendment And What They Tell Us About Its Interpretation, Richard L. Aynes

Akron Law Review

Much of the literature, understandably, seeks to find out what the framers of the amendment or the ratifiers of the amendment “intended.”...This article treats that issue as well, but begins with a different question: Does the amendment have consequences which were unintended by the framers? Over one and a quarter centuries ago, Justice Joseph Bradley answered that question in the affirmative: “It is possible that those who framed the article were not themselves aware of the far ranging character of its terms.” I suggest those unintended consequences include the effect of the Citizenship Clause on the force of the Fourteenth …