Showing archive for: “Corporate Governance”
Free to Choose: Day 1 Wrapup
I’ve compiled links to the excellent posts from day 1 in here, or you can go to the Free to Choose Symposium tab at the top of the blog. Tomorrow’s lineup should be more of the same, including posts from Claire Hill, Erin O’Hara, Todd Henderson, Tom Brown, Kevin McCabe, Steve Bainbridge, Christopher Sprigman & ... Free to Choose: Day 1 Wrapup
Larry Ribstein on Free to Lose?
Larry E. Ribstein is the Mildred Van Voorhis Jones Chair in Law and the associate dean for Research, University of Illinois College of Law I thought I’d aim my opening post at the question that motivated my interest in this symposium: is behavioral economics leading us to the end of free markets and the takeover ... Larry Ribstein on Free to Lose?
Investor-Protective Analysis or Illegal Insider Trading?
One problem with a group blog is that you don’t always know what your co-bloggers are writing while you’re drafting a post. I drafted the following post without realizing that Larry (and Steve Bainbridge) had already gone to town on the matter — in more detail than I, not surprisingly. In any event, I’m posting ... Investor-Protective Analysis or Illegal Insider Trading?
Insider trading: Bainbridge responds
Yesterday in criticizing a federal crackdown on insider trading I noted that “[a]ll of this theater can’t hide the dubious public policy underlying these prosecutions. Insider trading is, at worst, a breach of fiduciary duty which, like other such breaches, can be dealt with under state law.” Steve Bainbridge, an expert on insider trading, responds: I ... Insider trading: Bainbridge responds
The return of Rudy G
The WSJ has breathlessly reported: Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders, and analysts across the nation, according to people familiar with the matter. The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any ... The return of Rudy G
More backdating detritus
I’ve written (e.g.) about the misguided criminal prosecutions spawned by the backdating so-called scandal. WSJ’s Holman Jenkins, who has been on the story from the beginning, echoes these sentiments, emphasizing the real scandal of the prosecutorial misconduct spawned by backdating: it’s . . . hard not to see the self-interested ethics of the plaintiff’s bar ... More backdating detritus
Close corporation remedies and the evolution of the closely held firm
As previously discussed, I attended and presented a paper at an interesting symposium on the famous close corporation case, Wilkes v. Springside. Now the paper is available. Here’s the abstract: Close Corporation Remedies and the Evolution of the Closely Held Firm This paper examines the law of closely held firms from an evolutionary perspective. The ... Close corporation remedies and the evolution of the closely held firm
An epitaph for backdating
Peter Lattman reports on the Karatz case as an epitaph for the whole backdating so-called scandal: “These prosecutions went out with a whimper rather than a bang,” said Christopher J. Clark, a criminal defense lawyer at Dewey LeBoeuf who has done work on backdating cases. “With few convictions and no substantial sentences, juries and the ... An epitaph for backdating
Justice for a backdater
Two days ago I discussed the sentencing of KB Home’s Bruce Karatz, where the court was weighing the Probation Office’s recommendation of home detention against the U.S. Attorney’s 6.5 year jail sentence recommendation. I noted the argument that was being made that “swindlers shouldn’t be treated better than dope dealers,” and responded “Injustice to drug dealers doesn’t justify ... Justice for a backdater
Citizens United: Friday at Georgia State
I’ll be talking about the Citizens United case Friday at a Georgia State University College of Law symposium. Speakers also include Gene Nichol (UNC), Richard Briffault (Columbia), Joel Gora (Brooklyn), Heather Gerken (Yale), Jamie Raskin (American), Richard Hasen (Loyola), and Michael Boos, (GC Citizens United). You can get a pretty good idea here of my ... Citizens United: Friday at Georgia State
CPI Symposium featuring Ginsburg and Wright on Antitrust Sanctions
Competition Policy International’s newest issue has been released. The issue is focused on cartel sanctions and features a colloquium on a piece co-authored by Judge Douglas Ginsburg and me on Antitrust Sanctions, with comments from a fantastic lineup of antitrust economists and lawyers: Joseph Harrington (Johns Hopkins), Pieter Kalbfleisch (Netherlands Competition Authority), Mariana Tavares de ... CPI Symposium featuring Ginsburg and Wright on Antitrust Sanctions
Jail time for backdaters
I’ve blogged fairly extensively about backdating, including serious questions about whether and when it was wrong at all, and even more serious questions about whether it should be criminalized. Among the specific issues are whether any misrepresentations were material to investors. And then there’s the epidemic of prosecutorial misconduct that has occurred in these cases. ... Jail time for backdaters
