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Directors skip Home Depot’s annual shareholders’ meeting.

According to today’s W$J (see here), only a single director (the Chairman and CEO) attended Home Depot Inc.’s recent annual shareholders’ meeting, and he refused to answer questions as to why the other directors were not there. A commentor to this post about Halliburton’s annual shareholders’ meeting asserted that “[t]he purpose of the meeting is ... Directors skip Home Depot’s annual shareholders’ meeting.

Robinson-Patman Act Repealed!

Ok, not really. But the Antitrust Modernization Committee voted overwhelmingly in favor to repeal the Act (HT: Antitrust Review). Apparently, nine Commissioners voted in support of a the statement: “that Congress should repeal the Act in its entirety” on the grounds that: (1) the Act does not serve any purposes not already served by the ... Robinson-Patman Act Repealed!

Martha Stewart to Fight Civil Insider Trading Charges

As Lisa Fairfax notes over at the Glom (see here), Martha Stewart has decided to fight the civil insider trading charges filed against her by the SEC in June 2003 (more here). The complaint had been stayed pending resolution of the related criminal proceedings. With those proceedings resolved, the SEC lifted the stay last month. ... Martha Stewart to Fight Civil Insider Trading Charges

Lay *and* Skilling Found Guilty

See here! Skilling was found guilty of 19 counts (incl. conspiracy, fraud, false statements and insider trading). Lay was found guilty on 6 counts (fraud and conspiracy). I imagine both men will make model prisoners, although Lay might be the better prisoner, since he is very good at closing his eyes to bad things and ... Lay *and* Skilling Found Guilty

Vonage IPO flop magnifies FWP snafu.

As you’ve probably heard, Vonage’s IPO was a flop. It closed down 12.6% from its IPO price of $17. This represented the weakest first day performance of an IPO in nearly two years. It also greatly magnifies the apparent technical violations of the Securities Act I blogged about yesterday (see here). As Voange disclosed in ... Vonage IPO flop magnifies FWP snafu.

Lawyer Licensing: Where's the Data?

Larry Ribstein and Jonathan Wilson are discussing the merits of lawyer licensing at Point of Law. I am especially interested in the discussion of whether lawyer licensing actually protects consumers of legal services from dishonest and incompetent lawyers. Wilson argues that removal of lawyer licensing may well result in lower prices for legal services, but ... Lawyer Licensing: Where's the Data?

Update on Majority Voting for the Election of Directors

Following up on two earlier posts (here and here), the proposed changes to the Delaware Code re: majority voting are now available here. Also, the Chicago law firm Neal Gerber LLP has updated its majority voting survey of companies (see here).

Some Reactions to FTC Report on "Gouging"

I posted on the FTC Report findings earlier. In sum, the FTC was able to identify only isolated and sporadic incidences of pricing behavior which were not explained by changes in supply and demand conditions at the local, regional, and national level. In addition, the FTC investigation did not reveal any antitrust violations. The reactions ... Some Reactions to FTC Report on "Gouging"

W$J Letters to the Editor; Organ Sales; Prostitution

You might have noticed that prostitution was on my list of things to talk about while blogging on truthonthemarket.  Had I been blogging a decade ago, both prostitution *and* organ sales would have been on my list. You see, I have maintained for over a decade that the Supreme Court’s plurality opinion in Planned Parenthood v. ... W$J Letters to the Editor; Organ Sales; Prostitution

Vonage commits technical violation of Securities Act

I blogged earlier about Vonage taking advantage of recently liberalized SEC rules that allow the use of written marketing materials during the IPO waiting period (see here). Specifically, they emailed a letter to their customers regarding a directed share program. They then followed up the letter with a voicemail blast (see here). All this is ... Vonage commits technical violation of Securities Act

News Flash: Mutual fund investors don’t read prospectuses!

The Investment Company Institute (ICI), the mutual fund industry trade organization, recently published a survey entitled “Understanding Investor Preferences for Mutual Fund Information.â€? Click here for the survey and here for an ICI press release with highlights of the survey. Here’s some the findings: Mutual fund investors focus primarily on fees, historical performance, and risk ... News Flash: Mutual fund investors don’t read prospectuses!

Defining Words

Words and their meanings can be tricky as an absolute matter; moreso when used as tools in the law.  I have vague recollections of the interesting cases from first year contracts class where the contracting parties had gotten themselves all tied up by attributing differing meanings to the same words.  Good times, good times.  And the ... Defining Words