Groupon’s tmi
The WSJ reports that the SEC is on Groupon’s case for reporting “adjusted consolidated segment operating income” of $81.6 million while noting that subtracting marketing costs would produce a loss of $98 million. Groupon recently added that adjusted CSOI “should not be considered as a measure of discretionary cash available to us to invest in ... Groupon’s tmi
The Missouri suit against LegalZoom
Apropos of my recent discussions (e.g. here) of litigation against LegalZoom (and note my potential interest in this subject), the Law Blog reports on the Missouri class against LegalZoom alleging that LegalZoom is illegally practicing law in Missouri. The judge denied a motion for summary judgment and the case is going to trial August 22. The ... The Missouri suit against LegalZoom
Hot off the press: the future of legal education
My oft-blogged paper on the future of legal education, Practicing Theory: Legal Education for the Twenty-First Century, has now been published in the Iowa Law Review (the link takes you to the published version). Here’s the abstract: Law practice and legal education are facing fundamental changes. Many assume that these changes will force law schools ... Hot off the press: the future of legal education
The mirage of lawyer discipline
The Des Moines Register (HT Law Blog) reports that the Iowa Supreme Court is considering offering lawyers the option of agreeing to expedited law license suspension in exchange for confidentiality: Under the proposed rule change, lawyers suspended for stealing from clients, drug and alcohol problems, and neglecting important cases could hide what they did and ... The mirage of lawyer discipline
The opportunity costs of the backdating scandal
I have blogged extensively about the waste and injustice of the overblown backdating scandal. (The posts are collected in Ideoblog’s executive compensation archive). Now we have an accounting of the opportunity costs of the SEC’s pursuit of this so-called scandal. Here’s the abstract of Choi, Pritchard and Wiechman, Scandal Enforcement at the SEC: Salience and ... The opportunity costs of the backdating scandal
Some implications of the proxy access decision
Bloggers have had much to say about the DC Circuit’s proxy access decision. Of special note is our own Jay Verret and Steve Bainbridge, who adds a useful roundup. I have a few additional comments. First, I want to pick up on Jay’s comment that the decision shows the SEC “is an agency with too many ... Some implications of the proxy access decision
The First Amendment and unauthorized practice of law
I recently discussed the policy issues regarding litigation against LegalZoom for unauthorized practice of law (as well as noting my potential interest in this litigation). A recent paper analyzes the legal issues: Catherine Lanctot, Does LegalZoom Have First Amendment Rights? Some Thoughts About Freedom of Speech and the Unauthorized Practice of Law. Here’s some of ... The First Amendment and unauthorized practice of law
New on SSRN: Kobayashi and Ribstein on private lawmaking
The paper, with Kobayashi, is Law As A Byproduct: Theories Of Private Law Production. Here’s the abstract: Public lawmakers lack incentives to engage in a socially optimal amount of legal innovation. Private lawmaking is a potential solution to this problem. However, private lawmaking faces a dilemma: In order to be effective privately produced laws need ... New on SSRN: Kobayashi and Ribstein on private lawmaking
LLCs vs. corporations: explaining state variations in formations
The literature on the state “market” for LLC law is growing. Bruce Kobayashi and I published what I would modestly call the leading study (K & R) on jurisdictional competition for LLCs. There is also an unpublished study to which our article is in part a response by Dammann & Schündeln (D & S). Now there’s ... LLCs vs. corporations: explaining state variations in formations
The NYT misses the point about law schools
Today’s NYT is among the last news outlets in the universe to discover the story of legal education being overpriced for today’s job market. The article tells the tale of how NYLS’s outgoing Dean Richard Matasar, after years of lecturing about the need to reform legal education to better address its market, succumbs to legal ... The NYT misses the point about law schools
Next Friday: Debating lawyer licensing in L.A.
Here’s the info. Some of my writing is here and here. This is one of the big regulatory issues of our time. It’s not just about who makes how much money, but access to justice. The current system of compulsory licensing for the practice of law is doomed. The question is not whether it will ... Next Friday: Debating lawyer licensing in L.A.
Bainbridge’s e-book experiment
Steve Bainbridge is offering his new book, Directors as Auctioneers: A Concise Guide to Revlon-Land, as a Kindle eBook. Here’s his discussion of the book and of his decision to go the e-book route. I’ve bought it already and presumably will have it when I turn my Kindle on. Steve’s reasoning is plausible: he gets ... Bainbridge’s e-book experiment
