Are Federal Judges Competent? Dilettantes in an Age of Economic Expertise.

On April 11, 2011, the Honorable Jed S. Rakoff of the U.S. District Court for the Southern District of New York, delivered the Corporate Law Center’s annual DeStefano... Read More

Predicting Securities Fraud Settlements and Amounts: A Hierarchical Bayesian Model of Federal Securi

This paper develops models that predict the incidence and amount of settlements for federal class action securities fraud litigation in the post-PLSRA period. We build hierarchical Bayesian models using data which comes principally from Risk metrics an…

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POSTED IN Faculty Research

FLCF’s Week In Review

With finals around the corner, we’ve been a little slow with coverage. But we hope you didn’t miss the following stories: Por dios! S&P cuts Spain’s ratings to BBB- plus…the 8th largest economy is barely investment grade! Can Spain hold on? Washington showering some borderline inappropriate love on AIG? The U.S. still owns 70% of [...]

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FCLF’s Week in Review

Highlights from this week include: Goldman Sachs insiders keep popping up as federal prosecutors investigate insider trading. Nonbinding shareholder say on pay makes an impact, Barclays makes bonus changes. Consumer Financial Protection Bureau reviews overdraft protection programs of nine major banks. Former Citibank exec lambasts the Glass-Steagall repeal  as cause for the crisis. Can money-market [...]

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What Congress Had to Say: Legislative History as a Rehearsal of Congressional Response to Stern v. M

Congress regularly makes judgment calls of constitutional dimension. One important example of the interaction between the constitutional analysis of the Court and that of Congress involves disputes over the broad grant of jurisdiction exercised by unt…

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(Not Really) Buffeting the Buffet Rule Part II

Back in early October, I wrote about how President Obama unveiled a new piece of legislation known as the “Buffet Rule.” It went away for a bit, and now it’s back, kind of. A procedural vote took place in the Senate Monday evening, but there were not enough votes to end the filibuster. It is [...]

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POSTED IN Legislation, Tax

Justice Takes a Bite Out of Apple, and Might Save the Amazon

Apple allegedly showed Amazon some love before allegedly colluding against them. This week, the Department of Justice’s (“DoJ”) complaint against Apple and six publishing houses primarily asserted a per se violation of the Sherman Antitrust Act.  Three of the six publishers named in the lawsuit, Hachette, HarperCollins and Simon & Schuster, settled with the DoJ [...]

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POSTED IN Comparative Law, Litigation

The Tiger Loses Its Stripes? India’s Proposed Retroactive Tax on Offshore Takeovers May Diminish Its Aura As an Attractive Destination for Foreign Investors

On March 16, 2012, Pranab Mukherjee, the Indian Finance minister, proposed a retroactive amendment to India’s tax laws[1], which would allow the Indian government to impose a capital gains tax on the indirect sale of Indian assets among non-Indian entities. The proposed retroactive tax is an effort to shore up India’s fiscal budgetary woes and would allow the government to tax “offshore” transactions dating back to 1962.[2] Unsettlingly, the proposal is also a direct rebuke of the Supreme Court of India’s judgment issued in Vodafone International Holdings B.V. v. Union of India & Anr., holding that the Indian taxing authority did not have the power to tax the sale of a holding company incorporated outside of India [...]

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POSTED IN Comparative Law, Corporate Law, Mergers & Acquisitions, Tax

iFoxconn: The Corporation’s Role and the “Harder Problem” of Wages – Part II

International Justice Should Play a Part in a Corporation’s Role There are at least three compelling reasons to think that it would not go too far, however, to say that concerns for international justice should play a part in the role of prosperous corporations that do business in the developing world. First, these corporations have [...]

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POSTED IN Comparative Law, Corporate Law

FCLF’s Week in Review

Highlights from this week include: Banker bonuses bigger than fixed pay may be outlawed if some EU legislators get their wish. Could such legislation happen, or even be considered in the USA? How far will the business judgment rule stretch if criminal charges are ruled out? MF Global Execs may face personal liability says claw back [...]

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New: How Collective Settlements Camouflage the Costs of Shareholder Lawsuits

Settlements of shareholder lawsuits suffer from a collective action problem. Public corporations insure against liability by buying tiered coverage from multiple liability insurers, with each insurer covering a different slice of the potential damages…

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POSTED IN Faculty Research

- Fordham Corporate Center