Socially Acceptable Securities Fraud,
2024
Southern Methodist University, Dedman School of Law
Socially Acceptable Securities Fraud, Christine Hurt
Faculty Journal Articles and Book Chapters
What is a lie? Moreover, where is it a lie? Lies are bad. Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 create liability for issuer firms and individuals who make “an untrue statement of a material fact” or omit “a material fact required to be stated therein or necessary to make the statements therein not misleading.” In the ninety years since the passage of the Securities Exchange Act, however, the number of ways in which market participants may publicly disseminate statements that will be consumed by investors has exploded; does 10b-5 really apply to all these …
Taming The Digital Wild West: The Need To Fully Regulate The Crypto Market,
2024
Lewis & Clark Law School
Taming The Digital Wild West: The Need To Fully Regulate The Crypto Market, Shawn Stevenson
Lewis & Clark Law Review
Despite past doubts from sophisticated investors, cryptocurrencies have fully emerged from the underground and become a hot topic in mainstream financial discussions. At its peak, the global crypto market possessed a market cap of nearly $3 trillion, with the vast amount of that value created in less than two years. But this rapid growth has also come with extreme volatility; now more than a year out from that peak, the global crypto market has shrunk to under $1 trillion and has been riddled by high-profile bankruptcies. On top of this extreme volatility, the largely unregulated crypto market has become an …
The New Frontier For Bankruptcy: Crypto,
2024
Benjamin N. Cardozo School of Law
The New Frontier For Bankruptcy: Crypto, Lindy Lofton
Cardozo Arts & Entertainment Law Journal
The note examines the regulatory challenges posed by the rise of cryptocurrency platforms like Celsius and FTX, which have faced significant financial difficulties and bankruptcy. These platforms operate similarly to traditional banks and brokerages but lack the same regulatory oversight, leaving customers vulnerable without protections like FDIC insurance. The note argues that adopting legislation akin to the Banking Act of 1933 or the Securities Investor Protection Act (SIPA) could provide necessary safeguards, such as insurance mechanisms similar to FDIC or SIPC. However, the decentralized nature of cryptocurrency and opposition from the crypto community pose challenges to implementing such regulations. The …
Inequity In Equities: Spacs And The Expansion Of The Retail Market,
2024
University of Georgia School of Law
Inequity In Equities: Spacs And The Expansion Of The Retail Market, Usha R. Rodrigues, Michael Stegemoller
Scholarly Works
Federal securities law creates a divide between the haves and the have-nots: On one side are the wealthy, who can invest in private companies; on the other side stand the rest of us, noses pressed up against the glass. Ordinary (or retail) investors are on the outside looking in because generally they can only invest in companies after they have gone public. Even the traditional process of going public typically keeps coveted initial public offering (IPO) shares in the hands of the rich. Put differently, even as a private firm debuts on the public markets, the wealthy take their cut …
High-Frequency Traders: How The Sec Can Tighten Regulation While Maintaining The Benefits Of A Competitive Market,
2024
Wake Forest University
High-Frequency Traders: How The Sec Can Tighten Regulation While Maintaining The Benefits Of A Competitive Market, John I. Sanders
American University Business Law Review
In 2010, the so-called “Flash Crash” of the U.S. stock market brought the overlooked practice of high-frequency trading into the spotlight for the first time. Initial efforts to study and curtail the practice, including a transaction fee pilot attempted by the Securities and Exchange Commission in 2018, have been unsuccessful. After outlining the substantial benefits market participants gain from the activities of high-frequency traders, this article argues that there are three potent and readily available tools for limiting the harmful excesses of those traders: (i) aggressively bring market manipulation charges under § 9(a)(2) of the Exchange Act against those who …
Catalyzing Climate Resilience In The Electric Utility Sector: Investor-Backed Utilities Must Prepare For The Approaching Storm,
2024
Emory University School of Law
Catalyzing Climate Resilience In The Electric Utility Sector: Investor-Backed Utilities Must Prepare For The Approaching Storm, Jose J. Gonzalez
Emory Business Law Review
Communities and businesses that fail to take proactive measures will be devastated by the impacts of climate change. Across the United States, public and private entities have taken steps to protect companies and communities from climate change. However, financial restrictions and shareholder concerns have slowed such a response from the electric utility sector. This inaction has devastated communities such as Paradise, California and Lahaina, Hawaii. This Comment identifies how electric utility companies should utilize recently passed federal legislation, including the Bipartisan Infrastructure Law and Inflation Reduction Act, to finance large-scale projects to update America's power grid. This Comment also argues …
The End Of Remedies?,
2024
Emory University School of Law
It’S Not Personal, It’S Strictly Business: The Need To Amend The Federal Rules Of Evidence To Permit Live Corporate Designee Testimony At Trial,
2024
Emory University School of Law
It’S Not Personal, It’S Strictly Business: The Need To Amend The Federal Rules Of Evidence To Permit Live Corporate Designee Testimony At Trial, Veronica J. Finkelstein
Emory Business Law Review
No abstract provided.
How American Sports Leagues Can Respond To The Rise Of Sovereign Wealth Funds,
2024
Emory University School of Law
How American Sports Leagues Can Respond To The Rise Of Sovereign Wealth Funds, Chris Chen
Emory Business Law Review
This Comment explores the transformative impact of well-funded Middle Eastern sports leagues on the global landscape of professional sports. Fueled by substantial financial support from sovereign wealth funds, these leagues have raised concerns about the possibility that domestic American players may choose to leave their current league in favor of one of the opportunities for more lucrative salaries overseas. The rise of LIV Golf catalyzes these discussions. This Comment also delves into how American sports leagues may respond by potentially allowing players to have equity stakes, engage in sponsorships with gambling websites, and participate other revenue-sharing arrangements. The potential corporate …
Bridging The Gap In Corporate Governance For Interlocking Directors In Colombia,
2024
Emory University School of Law
Bridging The Gap In Corporate Governance For Interlocking Directors In Colombia, Juan D. Ovalle
Emory Business Law Review
No abstract provided.
Negotiating For Certainty In An Uncertain World,
2024
Emory University School of Law
Negotiating For Certainty In An Uncertain World, Matthew D. Kent
Emory Business Law Review
No abstract provided.
Antitrust, Labor Markets, And Issue-Spotting Dei Initiatives,
2024
Emory University School of Law
Antitrust, Labor Markets, And Issue-Spotting Dei Initiatives, Francesca Pisano
Emory Business Law Review
No abstract provided.
When Can An Agreement On Environmental Policies Comply With U.S. Antitrust Laws?,
2024
Emory University School of Law
When Can An Agreement On Environmental Policies Comply With U.S. Antitrust Laws?, Nathan Mendelsohn
Emory Business Law Review
No abstract provided.
Federal Enforcers Signal Heightened Scrutiny Of Algorithm Use To Inform Pricing Decisions,
2024
Emory University School of Law
Federal Enforcers Signal Heightened Scrutiny Of Algorithm Use To Inform Pricing Decisions, Lohr A. Beck, Carley H. Thompson
Emory Business Law Review
No abstract provided.
From The Great Recession To The Covid-19 Pandemic: A Financial History Of The United States 2010–2020: Introduction,
2024
Florida International University College of Law
From The Great Recession To The Covid-19 Pandemic: A Financial History Of The United States 2010–2020: Introduction, Jerry W. Markham
FIU Law Review
This article is an Introduction to a symposium on the Author's latest volume in his seven volume series on the Financial History of the United States. The Introduction summarizes the articles published in the symposium and reviews how each contributes to the ongoing analysis and debate over the causes of financial panics and government policies to deal with such events.
Rational Investing Or Speculative Fever?: Spacs, Robinhood, And Digital Assets—Securities Markets Or Casinos?,
2024
University of North Carolina at Chapel Hill
Rational Investing Or Speculative Fever?: Spacs, Robinhood, And Digital Assets—Securities Markets Or Casinos?, Thomas Lee Hazen
FIU Law Review
This article focuses a recurring theme – speculation in the financial markets. The 2010-2020 decade set the stage for a new round of speculative activity starting in 2021. In the article that follows I reflect on a new wave of speculation and three current examples of speculative activity. The article concludes that regulators should be cautious about over-regulation of SPACs and gamified trading. The article also supports the regulation of digital assets (crypto currencies and NFTs) as securities.
Ask The Professor: Will The Recent Second Circuit Decision In Sec V. Govil Adversely Impact Future Sec Disgorgement Cases—Or Not?,
2024
New York Law School
Ask The Professor: Will The Recent Second Circuit Decision In Sec V. Govil Adversely Impact Future Sec Disgorgement Cases—Or Not?, Ronald Filler
Articles & Chapters
No abstract provided.
The Sec And "Major Questions Doctrine" Questions,
2024
Indiana University Maurer School of Law
The Sec And "Major Questions Doctrine" Questions, Donna M. Nagy
Articles by Maurer Faculty
Nearly two years ago, in the wake of the Supreme Court’s formal adoption of what it termed the “major questions doctrine,” the Wall Street Journal reported a prediction that “‘every corporate securities lawyer in America is going to now fashion their arguments against SEC rulemaking to force-fit it into [that doctrine].’” As articulated by the sharply divided 6- 3 majority in West Virginia v. EPA, major questions doctrine (MQD) analysis is warranted in certain “extraordinary cases” involving a “transformative expansion” in a federal agency’s regulatory authority that is premised on “a merely plausible textual basis for the agency action.” Extraordinariness, …
Franchising Law In The United States Between Theory And Practice: Heads Up For Foreign Investors,
2024
Touro University Jacob D. Fuchsberg Law Center
Franchising Law In The United States Between Theory And Practice: Heads Up For Foreign Investors, Radwa Elsaman
Touro Law Review
As a dynamic vehicle for fostering investment opportunities, both domestically and internationally, franchising spans a diverse array of industrial sectors, encompassing both goods and services. The United States plays a highly influential role in global franchise industry promotion, with a vast majority of International Franchise Association members representing American companies. Present data underscores that franchising has extended its reach to virtually every sector of the American economy. Notably, the United States stands among just four common law nations that have established dedicated franchise legislation, operating at both state and federal levels. This framework includes provisions for pre-sale disclosure, registration of …
Undue Limitations In The Section 10(B) Purchaser-Seller Requirement,
2024
Southern Methodist University, Dedman School of Law
Undue Limitations In The Section 10(B) Purchaser-Seller Requirement, Marc I. Steinberg, Antonio R. Partida
Faculty Journal Articles and Book Chapters
This article considers different applications of the Purchaser-Seller Rule that a plaintiff must satisfy to bring a Section 10(b) and Rule 10b-5 private action. The history and development of the Purchaser-Seller Rule under Supreme Court and lower federal court jurisprudence is considered, with emphasis on recent case law unduly constricting this Rule. In particular, the Second Circuit’s restrictions on Section 10(b) standing are addressed, focusing on that appellate court’s decision in Frutarom which adhered to an overly formulaic approach to Section 10(b) standing that is out of line with prior Second Circuit and Supreme Court precedent. The article then considers …
