Symposium, JOBS Act: The Terrible Twos – General Solicitation & Crowdfunding, the Next Frontier of Securities Regulation

On March 24th, 2014, The Fordham Corporate Law Center and the Fordham Journal of Corporate & Financial Law will hold its 19th Annual Symposium focusing... Read More

REVISION: The Law of War and the Responsibility to Protect Civilians: A Reinterpretation

Two seemingly unrelated crises implicating the law of war and the responsibility to protect civilians have arisen in recent years. In 2013, the United States considered military intervention without United Nations (“U.N.”) Security Council preapproval in Syria after discovering that the government had exterminated its own people with chemical agents. In 2014, Russia sent troops into Crimea, a part of Ukraine, to protect ethnic Russians that Russia claimed were in danger after a political coup in the country. In both cases, the military acts contemplated or undertaken were of dubious legality, albeit under different rubrics. This Article aims to show how analysis of the lawfulness of military intervention in Syria and Crimea is illuminated by recognizing that both are subspecies of the same problem and are thus controlled by one customary doctrine of international law governing the grounds for war. By custom, a sovereign state may use force in another unconsenting sovereign state …

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POSTED IN Faculty Research

REVISION: From Institutional Theories to Private Pensions

The objective of this chapter is to show that the focus of modern corporate law theory on the concerns of shareholders is historically and geographically contingent. In doing so, it traces shareholder-stakeholder debates through the 20th century. The m…

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REVISION: From Institutional Theories to Private Pensions

The objective of this chapter is to show that the focus of modern corporate law theory on the concerns of shareholders is historically and geographically contingent. In doing so, it traces shareholder-stakeholder debates through the 20th century. The m…

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POSTED IN Faculty Research

NYC Bar’s Securities Litigation Committee Issues Report on Possible Impact of Halliburton II

NYC Bar’s Securities Litigation Committee Issues Report on Possible Impact of Halliburton II
The U.S. Supreme Court’s anticipated decision in Halliburton II will be a landmark event in the world of class action securities litigation.

The United States Supreme Court’s anticipated decision in Halliburton II will be a landmark event in the world of class action securities litigation. In its report, entitled The Possible Impact of Hallibuton II on Securities Class Action Litigation, the New York City Bar Association’s Committee on Securities Litigation, chaired by Fordham Law alum Todd G. Cosenza, provides an overview of the issues before the Supreme Court in that case, followed by a concise explanation of the history and key concepts most relevant to the current debate, including the efficient capital markets hypothesis, the fraud-on-the-market presumption, and the legal landscape in which the Supreme Court recently granted certiorari. The report then seeks to identify and analyze the potential implications of the Supreme Court’s decision in Halliburton II.

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POSTED IN Banking & Finance, Corporate Law, Financial Markets Regulation, SEC Investigations, Securities Regulation

Second Circuit to Shed Light on Personal Benefit Requirement for Tippee Liability

Anthony Chiasson’s infamous insider trading case has shed much light on the inequity underlying the inconsistencies of tippee liability.

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POSTED IN Banking & Finance, Corporate Law, Securities Regulation

REVISION: Double Remedies in Double Courts

This Article uses an ongoing trade controversy litigated in U.S. courts and the World Trade Organization dispute resolution system as a vehicle for exploring different models to deal with parallel adjudications in different legal systems between the sa…

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POSTED IN Faculty Research

REVISION: Clearinghouses as Liquidity Partitioning

To reduce the risk of another financial crisis, the Dodd-Frank Act requires that trading in certain derivatives be backed by clearinghouses. Critics mount two main objections: a clearinghouse shifts risk instead of reducing it; and a clearinghouse could fail, requiring a bailout. This Article’s observation that clearinghouses engage in liquidity partitioning answers both. Liquidity partitioning means that when one of its member firms becomes bankrupt, a clearinghouse keeps a portion of the firm’s most liquid assets, and a matching portion of its short-term debt, out of the bankruptcy estate. The clearinghouse then applies the first toward immediate repayment of the second. Economic value is created because creditors within the clearinghouse are paid much more quickly, and other creditors are paid no less quickly, than they would be otherwise. The rapid cash payouts for clearinghouse members reduce illiquidity and uncertainty in the financial sector, the main causes of contagion in a …

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POSTED IN Faculty Research

New: The Civil War in U.S. Foreign Relations Law: A Dress Rehearsal for Modern Transformations

This Article explains how the Executive Branch argued, and the Supreme Court accepted, dramatic departures from prior understandings of the foreign affairs Constitution during the Civil War. In this sense, the Civil War interlude was, in this sense a …

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POSTED IN Faculty Research

New: International Law and Institutions and the American Constitution in War and Peace

This Article describes how international law and institutions are not necessarily incompatible with U.S. sovereign interests today and how they were historically accepted as valid inputs to interpreting and implementing the Constitution during the foun…

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POSTED IN Faculty Research

REVISION: Countermajoritarian Federalism

The seeming oxymoron of the title describes a preference for more popularly responsive rule, i.e., federalism, but by the least democratic subnational governmental unit-state judiciaries. In this short essay, Professor Lee introduces the concept of co…

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POSTED IN Faculty Research

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