Showing results for: “FTC policy statement unfair methods of competition”
IPO Marketing Practices During the Waiting Period
The make or break time for an IPO from the underwriter’s perspective is the waiting period (the period of time beginning when the IPO registration statement is filed with the SEC and ending when the SEC declares the registration statement effective). This is when the underwriting syndicate is bookbuilding, i.e. actively marketing the deal and ... IPO Marketing Practices During the Waiting Period
Directors' Duties Even in Solvent Firms
In the Ribstein & Alces paper mentioned below by Keith, Ribstein & Alces write: The problem with holding that directors have duties to the “corporation” is that the corporation is composed of contracts among claimants with varying and possibly conflicting interests in the firm’s wealth. In solvent firms this is not troubling. Serving the firm’s ... Directors' Duties Even in Solvent Firms
Paternalism and the iPod, Part II: The Behavioral Economics of Apple?
Dave Hoffman over at Concurring Opinions asks: “Is Apple Exploiting Consumer Irrationality?” Dave is worried that consumers’ continuing iPod purchases may be irrational in the face of evidence that many iPod’s fail within their one year warranty period or shortly after, and that this strategy might explain Apple’s “growing market strength.” How likely are consumer ... Paternalism and the iPod, Part II: The Behavioral Economics of Apple?
Venture Backed Firms Going Public in London
This article from CFO.com reports that VCs have been having trouble taking their portfolio companies public in the U.S. largely because SOX has made it too expensive for small companies and the Wall Street research settlement has resulted in much less analyst coverage of small public companies. Larry Ribstein also talks about this here. As ... Venture Backed Firms Going Public in London
Risk Allocation Provisions and Auditor Independence
I blogged previously about a W$J article on auditors including so-called liability caps in their client engagement letters (see here). My view was that it really wasn’t newsworthy because “liability limitation provisions are standard in contracts among sophisticated parties, so its not surprising that auditors include them in engagement letters.� Additionally, the provisions cited in ... Risk Allocation Provisions and Auditor Independence
The U.S., the WTO and the absence of international law
Joel Trachtman at International Economic Law & Policy blog and Julian Ku at Opinio Juris are commenting on the role of international law in shaping US behavior, in this case with respect to compliance with WTO rulings. As Joel points out, “[t]raditional realist political science considers traditional international law ‘epiphenomenal,’ meaning that the real action ... The U.S., the WTO and the absence of international law
Burger King IPO Announcement: Technical Violation of Securities Act?
Burger King announced today that it plans to file an IPO registration statement with the SEC in March (click here for a Reuters article). According to BK’s CEO: “Our goal has always been to take Burger King public . . . . We believe the transparency and stability in ownership offered by being a public ... Burger King IPO Announcement: Technical Violation of Securities Act?
Vanderbilt’s New PhD Program in Law & Economics
Brian Leiter and David Bernstein report an exciting development: Vanderbilt Law School is starting a new PhD program in “law and economics.� See the official announcement here. The program will be headed by Kip Viscusi and Joni Hersch, two well-regarded law and economics scholars who are joining the Vanderbilt faculty from Harvard Law School. One ... Vanderbilt’s New PhD Program in Law & Economics
Disney/Pixar Deal: $6 Billion for Lasseter
The Slate has an interesting take on the Disney/Pixar deal. In an article entitled “The $6 Billion Man,” Edward Jay Epstein asserts that Disney is essentially paying $6 billion to obtain the services of John Lasseter, Pixar’s creative guru. Lasseter’s salary last year was about $2.8 million, and the value of his Pixar shares and ... Disney/Pixar Deal: $6 Billion for Lasseter
Antitrust Law and Competition for Distribution
Thom recently posted about Judge Alito’s comments on the recent Lepage’s decision involving bundled discounts offered to retailers. There is presently much debate among antitrust scholars regarding the proper treatment of “above-cost” price cuts, such as the bundled discounts in Lepage’s. The anticompetitive theory in these cases is not that discounts mask what is effectively ... Antitrust Law and Competition for Distribution
Disney/Pixar Deal and Omnicare
The Disney/Pixar deal is a hot topic in the blawgosphere (see, e.g., here, here, here and here), so I want to join in. I took a quick look at the transaction documents (they’re now available here on the SEC’s website) and noticed that Steve Jobs has executed a voting agreement (here) pursuant to which he ... Disney/Pixar Deal and Omnicare
Taking Maytag and Whirlpool to the cleaners
Christine blogs about the Whirlpool-Maytag merger and its antitrust problems. Law Blog has the story, as well. Both mention the American Antitrust Institute which opposes (vehemently) the merger. In fact, the AAI has never met a merger it didn’t find anticompetitive, so its opposition should be taken with a grain of salt. Then again, I’ve ... Taking Maytag and Whirlpool to the cleaners
