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As promised, I am reporting back from Tulane’s Corporate Law Institute qua “Who’s Who in the M&A World” gathering.Â Leo Strine did indeed query today: “can you have angst without a soul?”Â (He asked in response to the statement that initial bidders fear deal-jumpers when waiting out a go shop period.)Â Though the WSJ was ... "Can you have angst without a soul?" – Delaware Vice Chancellor Leo Strine
While we have been going on and on and on about Leegin here at TOTM, Manfred Gabriel offers a detailed analysis and a prediction on Twombly, the pending SCOTUS case which may provide some important guidance on 12(b)(6) standards.Â Gabriel predicts that the Court will neither embrace the District Court’s ruling that plus-factors must be ... You Mean Leegin's Not the Only SCOTUS Antitrust Case?
A few more thoughts to supplement Josh’s fine posting on the transcript of oral argument in Leegin. I don’t understand Justice Breyer. He recognizes that there are at least some circumstances in which RPM helps consumers. Why isn’t that enough for Dr. Miles to be overruled? Justice Breyer regards this as a “close case” (presumably ... More Thoughts on the Leegin Transcript
I leave tomorrow for Tulane’s Annual Corporate Law Institute.Â This conference is viewed by many as the top annual deal conference,Â so I am expecting great things (this will be my first time attendingÂ the conference).Â Indeed, the speaker line-up is incredible.Â Chief of OMA at the SEC, Chief Justice of the Del. Supreme Court, Vice Chancellor ... Annual Corporate Law Institute: "Everybody who is anybody is there."
Transcripts in Leegin are available here (HT: Antitrust Review where David Fischer points out some of the highlights of the oral argument).Â I may add some additional thoughts later after I read the whole thing again, but for now here are some first impressions: Breyer and Souter both had some interest comments on what to ... Some Preliminary Reactions to the Leegin Transcripts
I have a Word-a-Day calendar – each day of the calendar has its own page and its own vocabulary word.Â But I am visiting away from Richmond this semester, I am packing my Richmond house and moving to Tulane, I am buying a house, and I am selling my house.Â I am therefore very far ... Edifying Ourselves: Word-a-Day
As readers of TOTM know, I am interested in law school rankings. So recently I’ve been reading about the Vault “underrated” law school rankings (see my colleague Ilya Somin’s take here). Of course, I agree that GMU is underrated (and also with the praise the recruiter comments section gives to our evening students). But that ... Bill Henderson is One Reason I Read Blogs
Ronald Cass, dean emeritus of Boston University Law School, argues in today’s WSJ that the Supreme Court should overrule Dr. Miles: The decision was a mistake that has plagued antitrust law and American business ever since. Manufacturers have no interest in suppressing price competition to help increase profits for retailers. A manufacturer with a meaningful ... Cass on Leegin
Marginal Revolution’s Alex Tabarrok has a good post responding to recent attacks on the extension of credit to poor borrowers (and in particular, this rant from Nouriel Roubini).Â Here is a taste: Roubini and others generating hysteria about defaults in the mortgage market are credit snobs – they think credit is something that only the ... Tabarrok on the Credit Snobs
The insider trading trial of former Qwest CEO Joseph Naccio began yesterday. I’ve posted a couple of times (here and here) on Nacchio’s innovative defense, which the WSJ labeled a “black box” defense. (Basically, Nacchio is arguing that his sales of Qwest stock could not have been based on material non-public information that Qwest was ... The Nacchio Trial Begins
DealBook reports that Goldman Sachs has included the following shareholder proposal from Evelyn Davis in its 2007 proxy statement: RESOLVED: “That the Board of Directors take the necessary steps so that NO future NEW stock options are awarded to ANYONE, nor that any current stock options are repriced or renewed (unless there was a contract ... Shareholder Proposal re: NO NEW stock options
Adam Liptak, in the NYT,Â penned an interesting article on the declining level of usefulness that law review articles appear to have in judicial opinions.Â (Orrin Kerr has a nice post on the article.) Various quotes in the article make clear thatÂ some members of the judiciary do not find law review articles particularly helpful in deciding ... Helpful Law Review Articles?