Legal Remedies Commons^™

Shareholder Expression In A Time Of Heightened Political Tension, Aaron A. Dhir

Seattle University Law Review

In this article, I provide context for my forthcoming research project on shareholder proposals and racial equity audits. Since the murder of George Floyd in May of 2020, progressive shareholder actors have increasingly used the proposal mechanism to advance diversity, equity, inclusion, and justice-related goals. These proposals have frequently gone beyond requesting the usual corporate fare of diversity trainings, intersectionality workshops, affinity groups, etc. Instead, a more ambitious type of proposal asks corporate America to conduct racial equity audits, defined as “an independent, objective and holistic analysis of a company’s policies, practices, products, services and efforts to combat systemic racism …

Corporate Governance Speech, Sarah C. Haan

Seattle University Law Review

The State has always regulated the intra-firm communications that make corporate governance possible, most commonly by mandating disclosures of information by a corporation to its shareholders. Some such laws are labeled “securities regulation,” but securities regulation is a broad category that extends to speech by actors who are outside the corporate enterprise as well. Also, the conventional securities regulation category does not capture all such laws; other examples, including informationforcing mandates, can be found in state corporate law. This Article uses the term “corporate governance speech” to describe the communications among shareholders, directors, and officers through which corporate governance is …

Dark Accounting Matter, Colleen Honigsberg

Seattle University Law Review

Physicists calculate that approximately 85% of the matter in the universe is composed of “dark matter” that “does not absorb, reflect, or emit electromagnetic radiation and is therefore difficult to detect.” The S&P 500 currently trades at a price-to-book value of 4.2, suggesting that book value accounts for less than 20% of the S&P 500’s market value. The remaining 80% appears nowhere in these firms’ balance sheets—it is invisible to contemporary accounting techniques and constitutes “dark accounting matter.”

Some “dark accounting matter” is composed of factors commonly described as components of “ESG.” Human capital, for example, is an intangible asset …

The Employees’ Dilemma: Balancing Internal Reporting, Whistleblowing, And Insider Trading Risks, Geeyoung Min

Seattle University Law Review

The Essay examines how recent developments in insider trading regulations and whistleblower reward programs can lead to unintended and counterproductive results of discouraging employees from using internal reporting channels within corporate compliance programs. While the presence of a robust and well-functioning corporate compliance program is a critical factor both in mitigating the level of public enforcement actions against companies and in protecting corporate managers from liability in private litigation, these programs often provide little incentive for employees to report potential misconduct internally.

Corporate compliance programs are designed to promote the upward information flow within the company, which is essential for …

How The Antidiscrimination Law Of Commercial Transactions Really Works, Helen Norton

Seattle University Law Review

A variety of businesses now cite 303 Creative when seeking First Amendment protection for their refusal to serve certain customers based on those customers’ protected class status. How this litigation will play out remains to be seen. But future courts need not, and should not, repeat the 303 Creative Court’s misunderstanding of how the antidiscrimination law of commercial transactions actually works.

Part I of this Essay explains the Court’s longstanding understanding of the antidiscrimination law of commercial transactions, and then describes the Court’s failure to engage with this precedent in 303 Creative. Part II then identifies the 303 Creative decision’s …

#Taxback? Prohibiting State Real Property Taxes On Land In Indian Country, Pippa Browde

Marquette Law Review

Land is a critical asset of Indian tribes. As tribes wrestle with how to create sustainable economies to support their sovereignty, the use and management of tribal land is integral. Taxation is a key component of economic development. This Article is about taxation of land within Indian country. It considers existing law that allows for state taxation of some land within Indian country. It makes a normative claim as to who the proper taxing sovereign should be based on tax policy principles and principles that support tribal self-governance and tribal sovereignty.

In Part II, this Article provides the background for …

Counterclaims In Investor-State Arbitration: A Tale Of Two Cases, Godwin Tan, Justin Tan

National Law School of India Review

This article explores the evolving role of counterclaims in investment treaty arbitration. While arbitral rules commonly permit counterclaims, their success has historically been limited due to challenges such as the scope of the parties’ consent to arbitration and the lack of a relevant investor obligation to ground the counterclaim. However, a discernible increase in counterclaims under the ICSID Convention over the past 15 years suggests that there may be a shift in practice. Against this backdrop, this article carries out a comparative analysis of two recent decisions – Iberdrola v. Guatemala (2020) and Lopez Goyne Family Trust v. Nicaragua (2023) …

Green Dividends: A Case Study In Green Dividends And The Conditions For Private Ordering Solutions, Anne M. Tucker

Seattle University Law Review

This Essay introduces a novel private ordering solution to facilitate corporate investments in pro-social and environmental initiatives: Green dividends. Green dividends are an optional increase in shareholder dividends that are returned to the company to be reinvested in environmental initiatives or kept by a shareholder.

Green dividends pose an alternative to the current gridlocked debate that corporations can’t, won’t, shouldn’t, and shouldn’t even try to act in pro-social or environmental ways. Turning the common refrains on their head converts each narrative into an element for a successful private ordering solution: authority, accountability, shareholder buy-in, and government- backed enforcement. With Green …

Does Climate Disclosure Work To Reduce Greenhouse Gas Emissions? Emerging Evidence Suggests Cautious Optimism, Cynthia A. Williams

Seattle University Law Review

Significant regulatory resources have been spent developing global, voluntary climate and sustainability disclosure standards, such as the TCFD, TNRD, and ISSB’s Sustainability and Climate Disclosure standards, or domestically required disclosures, such as in the EU and in the U.S. Thus, it is important to evaluate whether this disclosure, particularly voluntary, qualitative disclosure, will have the power to shift the allocation of capital, will have a significant effect on the management of climate risk within firms, and ultimately will reduce climate change risk and biodiversity loss.

In this Article, several interrelated questions will be discussed. First, what does the empirical evidence …

Criminal Investors, Andrew K. Jennings

Faculty Articles

This Article reassesses the culpability of those who invest in law-breaking firms. Prosecutors currently treat investors as victims of corporate wrongdoing rather than as actors who might bear responsibility for it. This Article observes, though, that investment can facilitate, and even cause, illicit corporate activity. When investors intentionally contribute to those effects, substantive criminal law imposes liability on them just the same as it does on accomplices, conspirators, or principals in other contexts. Despite this formal parity, however, investor criminal liability is more a theoretical proposition than a practical reality.

This Article questions that status quo by asking whether and …

Pitching For Reform: Cangrejeros' Push To Level The Legal Playing Field By Challenging Baseball's Antitrust Exemption, Justin P. Chaljub

Fordham Journal of Corporate & Financial Law

For over one-hundred years, professional baseball has enjoyed an antitrust exemption unique among American major sports leagues, stemming from Supreme Court decisions in Federal Baseball and its progeny. This exemption has significantly influenced the evolution and structure of Major League Baseball (MLB). Despite extensive criticism and challenges for judicial and legislative reform, the exemption persists today.

However, new efforts have emerged to comprehensively disrupt this framework. In 2023, Nostalgic Partners was brought and structured to reach the U.S. Supreme Court. Plaintiffs anticipated they would lose at the lower court levels and garnered widespread support for the Court to grant a …

Federal Compassionate Release Principles: Defining The Contours Of Analyses Under The “Other Reasons” Bucket, Hannah Jacobs

American University Law Review

The U.S. Sentencing Commission’s new policy statement regarding 18 U.S.C. § 3582(c)(1)(A) informs federal judges’ sentence reduction analyses. The statement expands the extraordinary and compelling reasons for which district courts may grant compassionate release under the statute’s “Other Reasons” provision. A proper application of this catchall provision requires striking a balance between the broad judicial discretion codified in that provision and the flexibility, certainty, and fairness principles Congress and the Sentencing Commission intended to shape modern compassionate release. This discretion is bound by statutory, policy, and prudential considerations, including fidelity to the totality-of-the-circumstances framework and a case-by-case approach to individual …

The Erosion Of Trust: Arizona V. Navajo, Climate Change, And The Potential Abrogation Of Tribal Water Rights, Dr. Taino J. Palermo

Roger Williams University Law Review

No abstract provided.

Only Mostly Dead: How The Irreparable Injury Rule Can Protect The Jury Trial Right For Claims In Restitution, Layne Keele

Oklahoma Law Review

No abstract provided.

Standardizing Exoneration Compensation Statutes, Farina Barth

Journal Articles

Wrongful convictions plague the American criminal justice system and leave lasting, unimaginable harm on the innocent. Since 1989 through February 2025, the National Registry of Exonerations reported 3,658 exonerations: a total of 32,750 years behind bars that were lost. An exoneree, once labeled a defendant, becomes a victim. To right this wrong, some states aim to make a wrongfully convicted citizen whole through compensation. However, in examining the evidence of wrongful conviction compensation, a pervasive issue is uncovered in the American compensation system: victims of wrongful incarceration are deeply undercompensated due to statutory drafting. For those states with compensation statutes, …

Transunion, Vermont Agency, And Statutory Damages Under Article Iii, Randy Beck

Scholarly Works

The Supreme Court concluded in TransUnion LLC v. Ramirez that a plaintiff may not sue to collect statutory damages under a statute like the Fair Credit Reporting Act (FCRA) simply because the defendant violated a right Congress conferred on the plaintiff. Instead, Article III requires the plaintiff to show that the statutory violation resulted in a “concrete” injury with “a ‘close relationship’ to a harm ‘traditionally’ recognized as providing a basis for a lawsuit in American courts.” The TransUnion Court made no effort to explain how its conclusion could be reconciled with Vermont Agency of Natural Resources v. United States …

"A Signature At Gunpoint" - Reframing Forced Sales And Sales Under Duress In Nazi-Looted Art Disputes, Ethan Ashley

Cardozo International & Comparative Law Review

The note advocates for recognizing forced sales of art during the Nazi era as sales under duress and proposes a legal presumption of duress to facilitate restitution for heirs. It suggests amending the Holocaust Expropriated Art Recovery (HEAR) Act of 2016 to include this presumption, shifting the burden of proof to defendants to demonstrate that sales were voluntary. This change aims to address inconsistent court rulings and ensure fairer outcomes for claimants.

Can Commercials Be Art? An Analysis Of Intellectual Property Preawareness In The Barbie Era, Shreya Kalidindi

Cardozo Arts & Entertainment Law Journal

The note examines the evolution of advertising, particularly native advertising, and critiques the inadequacy of current regulatory frameworks in addressing its deceptive potential. It highlights how modern advertising practices, such as product placement in films like Barbie, blur the line between commercial speech and artistic expression, challenging the Federal Trade Commission’s (FTC) ability to protect consumers. The analysis argues that strengthening existing regulations is insufficient and advocates for empowering consumers to make informed decisions, as the legal system struggles to keep pace with innovative advertising strategies.

Ai Disgorgement Or Ai Recalls: A Trip Down Remedy Lane, Margot Kaminski

Publications

No abstract provided.

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead