Showing results for: “Section 5, Collateral Consequences, and Counting Unicorns”
SEC to Consider Expanded Preemption of Blue Sky Registration Requirements
In 1996, Congress passed the National Securities Markets Improvement Act, which, among other things, amended Section 18 of the ’33 Act to provide that no state law, rule, regulation or order “requiring, or with respect to, registration or qualification of securities, or registration or qualification of securities transactions, shall directly or indirectly apply to a ... SEC to Consider Expanded Preemption of Blue Sky Registration Requirements
Call for Papers: AALS Section on Securities Regulation
AALS SECTION ON SECURITIES REGULATION CALL FOR PAPERS FOR JANUARY 2007 ANNUAL MEETING The AALS Section on Securities Regulation will hold its seventh meeting during the AALS Annual Meeting in San Francisco, California from January 3-6, 2007. (The Section meeting is tentatively scheduled for Saturday, January 6, 2007). The Executive Committee invites submissions of abstracts ... Call for Papers: AALS Section on Securities Regulation
Oxley & Baker: SEC Can Exempt Small Cos. from Sarbanes-Oxley 404
According to BNA, in a 3/2/06 letter to the SEC, Reps. Oxley and Baker stated that in their view the SEC does have the authority under both Section 36(a) of the Exchange Act and Section 3(a) of SOX to exempt small companies from SOX 404 (see my post on this argument here). I guess that ... Oxley & Baker: SEC Can Exempt Small Cos. from Sarbanes-Oxley 404
A Reply to McCann on the Globetrotters
Professor McCann responds to my earlier post about the Globetrotters use of exclusive contracts, and more generally, erroneously inferring monopoly power from the observation of a single firm winning the competition for exclusives: While I understand Wright’s theoretical point, I find it hard to imagine how there can be actual competition for the exclusivity contracts ... A Reply to McCann on the Globetrotters
More on Audit Engagement Letter Limitation of Liability Provisions
Today’s W$J has another article on limitation of liability provisions in auditor engagement letters (click here). This is a subject on which I’ve blogged before (see here and here). Because of the attention given the issue, it looks like more companies are disclosing in their proxy statements the existence of the provisions. I remain slightly ... More on Audit Engagement Letter Limitation of Liability Provisions
SCOTUS Slays the "Exotic Beast"
SCOTUS’ Dagher opinion is indeed good news. For those unfamiliar with the case, the Ninth Circuit held that the pricing policy of two joint ventures between Shell and Texaco were per se illegal under the Sherman Act. As it stood, the Ninth Circuit’s analysis threatened per se antitrust liability for joint ventures engaging in the ... SCOTUS Slays the "Exotic Beast"
Good antitrust news from the Court
To almost no one’s surprise, the Court ruled today (unanimously) in Texaco v Dagher that a pricing agreement between Shell and Texaco which was part of a lawful joint venure is not per se illegal under the Sherman Act. See this Reuter’s story here (HT: Bill). The key grafs: Justice Clarence Thomas concluded in the ... Good antitrust news from the Court
Can the SEC Exempt Small Companies from Sarbanes-Oxley 404? (Part 2)
Back on the first day of TOTM’s existence, I raised the question of whether the SEC has the authority to exempt small companies from SOX 404 compliance as proposed by the SEC Advisory Committee on Smaller Public Companies (see here). I stated that “[i]t’s not clear to me that [the SEC has] the legal authority ... Can the SEC Exempt Small Companies from Sarbanes-Oxley 404? (Part 2)
Whose university is it?
There’s been some recent (and widely disparate) posting on the nature and governance of universities. See, for example, here (Tsai on sports and higher ed), here (Oesterle on endowment spending), here (Bollier on the knowledge commons; see especially comments by me and Josh in the . . . comments section (duh)), here (Posner on tenure), ... Whose university is it?
Measure 37 Upheld
You may or may not know that Oregon’s Measure 37 — our anti-takings measure — was ruled unconstitutional last year by a state trial court. See this post by Todd Zywicki. But today the Oregon Supreme Court reversed, and handed the effort to quash Measure 37 a resounding defeat. The court’s holding, on each of ... Measure 37 Upheld
Bargaining in the Shadow of Justice Alito
David Fischer at Antitrust Review posts an excerpt from Information Resources, Inc.’s (IRI) press release issued to explain the recent settlement of their ten year long litigation against VNU (A.C. Nielsen, IMS Health, and Dun and Bradstreet). IRI’s claims were based on an “above cost” bundling theory that Thom has discussed in detail here. In ... Bargaining in the Shadow of Justice Alito
The ABA, the AALS, and the Rule of Law
In an op-ed published in Saturday’s W$J (slightly updated version available here for free), Prof. David Bernstein drew attention to the American Bar Association’s proposed revision to its law school accreditation standards concerning student and faculty racial diversity. Bernstein criticized the ABA proposal for, in essence, calling on law schools to ignore constitutional and statutory ... The ABA, the AALS, and the Rule of Law
