Commentaries and cases on the law of business organization:
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
New York
Wolters Kluwer
2016
|
| Ausgabe: | Fifth edition |
| Schriftenreihe: | Aspen casebook series
|
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029692303&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029692303&sequence=000003&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
| Beschreibung: | Includes index. - Includes bibliographical references and index |
| Umfang: | XXVI, 721 Seiten |
| ISBN: | 9781454870616 |
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Datensatz im Suchindex
| _version_ | 1819261689184387072 |
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| adam_text | COMMENTARIES AND CASES ON THE LAW OF BUSINESS ORGANIZATION
/ ALLEN, WILLIAM T.YYEAUTHOR
: 2016
TABLE OF CONTENTS / INHALTSVERZEICHNIS
ACTING THROUGH OTHERS : THE LAW OF AGENCY
JOINT OWNERSHIP OF A BUSINESS : THE LAW OF PARTNERSHIPS AND LIMITED
LIABILITY COMPANIES
THE CORPORATE FORM
THE PROTECTION OF CREDITORS
DEBT, EQUITY, AND ECONOMIC VALUE
NORMAL GOVERNANCE : THE VOTING SYSTEM
NORMAL GOVERNANCE : THE DUTY OF CARE
THE DUTY OF LOYALTY : CONFLICT TRANSACTIONS
EXECUTIVE COMPENSATION
SHAREHOLDER LAWSUITS
TRANSACTIONS IN CONTROL
FUNDAMENTAL TRANSACTIONS : MERGERS AND ACQUISITIONS
PUBLIC CONTESTS FOR CORPORATE CONTROL
TRADING IN THE CORPORATION S SECURITIES
DIESES SCHRIFTSTCK WURDE MASCHINELL ERZEUGT.
CONTENTS
PREFACE
ACKNOWLEDGMENTS
XXI
XXV
INTRODUCTION
ACTING THROUGH OTHERS: THE LAW
OF AGENCY
1.1 INTRODUCTION TO AGENCY 7
1.2 AGENCY FORMATION, AGENCY TERMINATION, AND PRINCIPAL S LIABILITY 8
1.2.1 FORMATION 8
1.2.2 TERMINATION 9
1.2.3 PARTIES CONCEPTION DOES NOT CONTROL 9
JENSON FARMS CO. V. CARGILL, INC. 9
1.2.4 LIABILITY IN CONTRACT 13
1.2.4.1 ACTUAL AND APPARENT AUTHORITY 13
WHITE V. THOMAS 14
1.2.4.2 INHERENT AUTHORITY 16
GALLANT INS. CO. V. ISAAC 17
1.2.5 LIABILITY IN TORT 22
HUMBLE OIL & REFINING CO. V. MARTIN 22
HOOVER V. SUN OIL CO. 24
1.2.6 LIABILITY IN TORT UNDER THE APPARENT AUTHORITY DOCTRINE 27
1.3 THE GOVERNANCE OF AGENCY (THE AGENT S DUTIES) 27
1.3.1 THE NATURE OF THE AGENT S FIDUCIARY RELATIONSHIP 27
1.3.2 THE AGENT S DUTY OF LOYALTY TO THE PRINCIPAL 28
TARNOWSKI V. RESOP 28
1.3.3 THE TRUSTEE S DUTY TO TRUST BENEFICIARIES 30
IN RE GLEESON 31
XI
CONTENTS
JOINT OWNERSHIP OF A BUSINESS:
THE LAW OF PARTNERSHIPS AND LIMITED
LIABILITY COMPANIES 33
2.1 INTRODUCTION TO PARTNERSHIP: WHY JOINT OWNERSHIP? 34
WILLIAM KLEIN &JOHN C. COFFEE, THE NEED
TO ASSEMBLE AT-RISK CAPITAL 36
2.2 PARTNERSHIP FORMATION 39
VOHLAND V. SWEET 39
2.3 RELATIONS WITH THIRD PARTIES 42
2.3.1 PARTNERSHIP CREDITORS CLAIMS AGAINST DEPARTING PARTNERS 43
2.3.2 THIRD-PARTY CLAIMS AGAINST PARTNERSHIP PROPERTY 44
2.3.3 CLAIMS OF PARTNERSHIP CREDITORS TO PARTNER S INDIVIDUAL PROPERTY
45
2.4 PARTNERSHIP GOVERNANCE AND ISSUES OF AUTHORITY 46
NATIONAL BISCUIT CO. V. STROUD 46
2.5 TERMINATION (DISSOLUTION AND DISSOCIATION) 48
2.5.1 ACCOUNTING FOR PARTNERSHIP S FINANCIAL STATUS AND PERFORMANCE 49
SAMPLE PARTNERSHIP BALANCE SHEET 49
SAMPLE PARTNERSHIP INCOME STATEMENT 49
ACCOUNTING FOR PARTNERS CAPITAL 50
ADAMS V. JARVIS 51
2.5.2 STATUTORY DISSOLUTION OF A PARTNERSHIP AT WILL 55
2.5.3 OPPORTUNISTIC DISSOLUTION AND THE PARTNER S DUTY OF LOYALTY 56
PAGE V. PAGE 56
2.6 AGENCY CONFLICTS AMONG CO-OWNERS: FIDUCIARY DUTIES 59
MEINHARD V. SALMON 59
2.7 LIMITED LIABILITY SUCCESSORS OF THE GENERAL PARTNERSHIP 63
2.7.1 THE LIMITED PARTNERSHIP 64
2.7.2 THE LIMITED LIABILITY PARTNERSHIP 65
2.73 THE LIMITED LIABILITY COMPANY 66
2.7.31 TAXATION OF LLCS 67
2.7.3-2 CONTRACTUAL FLEXIBILITY 68
POPPAS ET AL. V. TZOLIS 69
THE CORPORATE FORM
75
3.1 INTRODUCTION TO THE CORPORATE FORM 75
3.2 CREATION OF A FICTIONAL LEGAL ENTITY 77
32.1 A NOTE ON THE HISTORY OF CORPORATE FORMATION 78
3.2.2 THE PROCESS OF INCORPORATING TODAY 82
3.2.3 THE ARTICLES OF INCORPORATION, OR CHARTER 83
3.2.4 THE CORPORATE BYLAWS 84
3-2.5 SHAREHOLDERS AGREEMENTS 85
CONTENTS XIII
3.3 LIMITED LIABILITY 85
FRANK EASTERBROOK & DANIEL FISCHEL,
LIMITED LIABILITY AND THE CORPORATION 87
3.4 TRANSFERABLE SHARES 89
3.5 CENTRALIZED MANAGEMENT 90
3.5.1 LEGAL CONSTRUCTION OF THE BOARD 92
3.5.11 THE HOLDER OF PRIMARY MANAGEMENT POWER 92
AUTOMATIC SELF-CLEANSING FILTER SYNDICATE CO.,
LTD. V. CUNNINGHAME 92
3.5.1.2 STRUCTURE AND FUNCTION OF THE BOARD 95
3.513 FORMALITY IN BOARD OPERATION 97
3.51.4 A CRITIQUE OF BOARDS 98
35.2 CORPORATE OFFICERS: AGENTS OF THE CORPORATION 98
JENNINGS V. PITTSBURGH MERCANTILE CO. 99
THE PROTECTION OF CREDITORS
DEBT, EQUITY, AND ECONOMIC VALUE
103
4.1 MANDATORY DISCLOSURE 104
4.2 CAPITAL REGULATION 105
4.2.1 FINANCIAL STATEMENTS 105
4.2.2 DISTRIBUTION CONSTRAINTS 109
4.2.3 MINIMUM CAPITAL AND CAPITAL MAINTENANCE REQUIREMENTS 111
4.3 STANDARD-BASED DUTIES 112
4.3.1 DIRECTOR LIABILITY 112
4.32 CREDITOR PROTECTION: FRAUDULENT TRANSFERS 115
4.3.3 SHAREHOLDER LIABILITY 116
4.3.3.1 EQUITABLE SUBORDINATION 116
COSTELLO V. FAZIO 116
4.33.2 PIERCING THE CORPORATE VEIL 122
SEA-LAND SERVICES, INC. V. THE PEPPER SOURCE 123
KINNEY SHOE CORP. V. POLAN 127
4.4 VEIL PIERCING ON BEHALF OF INVOLUNTARY CREDITORS 131
WALKOVSZKY V. CARLTON 132
143
5.1 CAPITAL STRUCTURE 143
5.1.1 LEGAL CHARACTER OF DEBT 144
5.1.2 LEGAL CHARACTER OF EQUITY 145
5.2 BASIC CONCEPTS OF VALUATION 147
5.2.1 THE TIME VALUE OF MONEY 147
5.2.2 RISK AND RETURN 149
5.2.3 DIVERSIFICATION AND SYSTEMATIC RISK 152
CONTENTS
5.3 VALUING ASSETS 154
5.3.1 THE DISCOUNT CASH FLOW (DCF) APPROACH 154
53.2 THE RELEVANCE OF PRICES IN THE SECURITIES MARKET 157
IN RE EMERGING COMMUNICATIONS INC.,
SHAREHOLDER LITIGATION 158
NORMAL GOVERNANCE: THE VOTING SYSTEM
163
6.1 INTRODUCTION: SHAREHOLDER VOTING IN THE NEW
CORPORATE GOVERNANCE 163
6.2 ELECTING AND REMOVING DIRECTORS 166
6.2.1 ELECTING DIRECTORS 166
6.2.2 REMOVING DIRECTORS 169
6.3 SHAREHOLDER MEETINGS AND ALTERNATIVES 172
6.4 PROXY VOTING AND ITS COSTS 173
ROSENFELD V. FAIRCHILD ENGINE & AIRPLANE CORP. 175
6.5 CLASS VOTING 177
6.6 SHAREHOLDER INFORMATION RIGHTS 179
6.7 TECHNIQUES FOR SEPARATING CONTROL FROM CASH FLOW RIGHTS 181
6.7.1 CIRCULAR CONTROL STRUCTURES 181
SPEISER V. BAKER 182
6.7.2 VOTE BUYING 188
FRANK EASTERBROOK & DANIEL FISCHEL, VOTING IN
CORPORATE LAW 188
SCHREIBER V. CARNEY 189
6.7.3 CONTROLLING MINORITY STRUCTURES 197
LUCIAN A. BEBCHUK, REINIER KRAAKMAN &
GEORGE G. TRIANTIS, STOCK PYRAMIDS,
CROSS-OWNERSHIP, AND DUAL CLASS EQUITY 197
6.8 MITIGATING A COLLECTIVE PROBLEM TODAY: ACTIVIST INVESTORS 201
MARCEL KAHAN & EDWARD B. ROCK, HEDGE
FUNDS IN CORPORATE GOVERNANCE AND
CORPORATE CONTROL 202
6.9 THE FEDERAL PROXY RULES 203
6.9.1 RULES I4A-1 THROUGH L4A-7: DISCLOSURE AND SHAREHOLDER
COMMUNICATION 203
6.9-2 ACTIVIST INVESTORS AND THE SHORT SLATE PROXY CONTEST 207
6.9.3 ACCESS TO THE COMPANY S PROXY STATEMENT: RULE L4A-8:
SHAREHOLDER PROPOSALS 208
6.94 RULE L4A-9: THE ANTIFRAUDRULE 214
VIRGINIA BANKSHARES, INC. V. SANDBERG 216
6.10 FIDUCIARY SUPERINTENDENCE OF SHAREHOLDER VOTING 224
SCHNELL V. CHRIS-CRAFT INDUSTRIES, INC. 225
CONTENTS XV
NORMAL GOVERNANCE: THE DOTY OF CARE
8
THE DUTY OF LOYALTY: CONFLICT TRANSACTIONS
229
7.1 INTRODUCTION TO THE DUTY OF CARE . 229
7.2 THE DUTY OF CARE AND THE NEED TO MITIGATE DIRECTOR RISK AVERSION 230
GAGLIARDI V. TRIFOODS INTERNATIONAL, INC. 231
7.3 STATUTORY TECHNIQUES FOR LIMITING DIRECTOR AND OFFICER RISK
EXPOSURE 233
7.31 INDEMNIFICATION 233
WALTUCH V. CONTICOMMODITY SERVICES, INC. 233
7.3.2 DIRECTORS AND OFFICERS INSURANCE 238
7.4 JUDICIAL PROTECTION: THE BUSINESS JUDGMENT RULE 239
KAMIN V. AMERICAN EXPRESS CO. 240
7.4.1 UNDERSTANDING THE BUSINESS JUDGMENT RULE 243
7.4.2 THE DUTY OF CARE IN TAKEOVER CASES: A NOTE
ON SMITH V. VAN GORKOM 244
7.4.3 ADDITIONAL STATUTORY PROTECTION: AUTHORIZATION FOR CHARTER
PROVISIONS WAIVING LIABILITY FOR DUE CARE VIOLATIONS 246
7.5 THE BOARD S DUTY TO MONITOR: LOSSES CAUSED BY BOARD PASSIVITY 248
FRANCIS V. UNITED JERSEY BANK 249
GRAHAM V. ALLIS-CHALRNERS MANUFACTURING CO. 255
IN THE MATTER OF MICHAEL MARCHESE 259
IN RE CAREMARK INTERNATIONAL INC. DERIVATIVE
LITIGATION 265
IN RE CITIGROUP INC. SHAREHOLDER DERIVATIVE
LITIGATION 272
7.6 KNOWING VIOLATIONS OF LAW 277
MILLER V. AT&T 278
283
8.1 DUTY TO WHOM? 284
8.1.1 THE SHAREHOLDER PRIMACY NORM 284
A.P. SMITH MANUFACTURING CO. V. BARLOW 287
8.1.2 CONSTITUENCY STATUTES 289
8.1.3 DEFINING CORPORATE PURPOSE IN THE CHARTER: BENEFIT
CORPORATIONS 290
8.2 SELF-DEALING TRANSACTIONS 292
8.2.1 THE DISCLOSURE REQUIREMENT 293
STATE EX REL. HAYES OYSTER CO. V. KEYPOINT
OYSTER CO. 293
MELVIN EISENBERG, SELF-INTERESTED TRANSACTIONS
IN CORPORATE LAW 296
XVI CONTENTS
8.3 THE EFFECT OF APPROVAL BY A DISINTERESTED PARTY 298
8.3.1 EARLY REGULATION OF FIDUCIARY SELF-DEALING 298
8.3.2 JUDICIAL REVIEW OF SELF-DEALING TODAY: THE LIMITED ROLE
OF SAFE HARBOR STATUTES 300
COOKIES FOOD PRODUCTS V. LAKES WAREHOUSE 300
8.3.3 JUDICIAL REVIEW WHEN TRANSACTION HAS BEEN APPROVED BY A
DISINTERESTED MAJORITY OF THE BOARD 305
MELVIN EISENBERG, SELF-INTERESTED TRANSACTIONS IN
CORPORATE LAW 306
COOKE V. OOLIE 307
8.3.4 APPROVAL BY A MINORITY OF DIRECTORS: SPECIAL BOARD
COMMITTEES 309
8.3.5 SHAREHOLDER RATIFICATION OF CONFLICT TRANSACTIONS 309
LEWIS V. VOGELSTEIN 310
8.4 CORPORATE DIRECTORS AND THE DUTY OF GOOD FAITH 311
8.5 CONTROLLING SHAREHOLDERS AND THE FAIRNESS STANDARD 313
8.51 DIFFERENT TREATMENT FOR CONTROLLING SHAREHOLDERS? 313
SINCLAIR OIL CORP. V. LEVIEN 314
WEINBERGER V. UOP, INC. 318
8.5.2 APPROVAL BY A BOARD MINORITY OF INDEPENDENT DIRECTORS:
SPECIAL COMMITTEES 326
8.6 CORPORATE OPPORTUNITY DOCTRINE 327
8.6.1 DETERMINING WHICH OPPORTUNITIES BELONG TO THE
CORPORATION 328
8.6.2 WHEN MAY A FIDUCIARY TAKE A CORPORATE OPPORTUNITY? 329
8.7 THE DUTY OF LOYALTY IN CLOSE CORPORATIONS 330
DONAHUE V. RODD ELECTROTYPE CO. 331
FRANK EASTERBROOK & DANIEL FISCHEL, CLOSE
CORPORATIONS AND AGENCY COSTS 336
SMITH V. ATLANTIC PROPERTIES, INC. 338
EXECUTIVE COMPENSATION
343
9.1 INTRODUCTION 343
9-2 THE CHALLENGE OF EXECUTIVE PAY 344
92.1 CREATING INCENTIVES THAT ALIGN MANAGERS WITH INVESTORS 344
92.2 POLITICAL AND REGULATORY RESPONSES TO EXECUTIVE PAY 347
9.3
ARE
U.S. CEOS
PAID TOO MUCH?
352
LUCIAN BEBCHUK & JESSE FRIED, PAY WITHOUT
PERFORMANCE: OVERVIEW OF THE ISSUES 355
BENGT HOLMSTROM, PAY WITHOUT PERFORMANCE
AND THE MANAGERIAL POWER HYPOTHESIS:
A COMMENT 357
9.4 JUDICIAL REVIEW OF COMPENSATION 358
9.4.1 THE LAW OF EXECUTIVE OFFICER COMPENSATION 358
CONTENTS XVII
IN RE THE GOLDMAN SACHS GROUP, INC.
SHAREHOLDER LITIGATION 360
95 JUDICIAL REVIEW OF DIRECTOR COMPENSATION 368
CALMA V. TEMPLETON 369
10
SHAREHOLDER LAWSUITS
11
TRANSACTIONS M CONTROL
375
10.1 DISTINGUISHING BETWEEN DIRECT AND DERIVATIVE CLAIMS 375
10.2 SOLVING A COLLECTIVE ACTION PROBLEM: ATTORNEYS FEES AND THE
INCENTIVE TO SUE 379
FLETCHER V. A.J. INDUSTRIES, INC. 380
10.3 STANDING REQUIREMENTS 385
10.4 BALANCING THE RIGHTS OF BOARDS TO MANAGE THE CORPORATION AND
SHAREHOLDERS RIGHTS TO OBTAIN JUDICIAL REVIEW 387
10.4.1 THE DEMAND REQUIREMENT OF RULE 23 388
LEVINE V. SMITH 388
RALES V. BLASBAND 393
10.4.2 SPECIAL LITIGATION COMMITTEES 400
ZAPATA CORP. V. MALDONADO 400
IN RE ORACLE CORP. DERIVATIVE LITIGATION 406
JOY V. NORTH 414
10.5 DEALING WITH AN ABUNDANCE OF SHAREHOLDER SUITS: EXCLUSIVE
FORUM BYLAWS 418
10.6 SETTLEMENT AND INDEMNIFICATION 421
10.6.1 SETTLEMENT BY CLASS REPRESENTATIVES 421
10.6.2 SETTLEMENT BY SPECIAL COMMITTEE 422
CARLTON INVESTMENTS V. TLC BEATRICE
INTERNATIONAL HOLDINGS, INC. 422
10.7 WHEN ARE DERIVATIVE SUITS IN SHAREHOLDERS INTERESTS? 425
427
11.1 SALES OF CONTROL BLOCKS: THE SELLER S DUTIES 429
11.1.1 THE REGULATION OF CONTROL PREMIA 429
ZETLIN V. HANSON HOLDINGS, INC. 430
PERLMAN V. FELDMANN 431
11.1.2 A DEFENSE OF THE MARKET RULE IN SALES OF CONTROL 437
FRANK H. EASTERBROOK & DANIEL R. FISCHEL,
CORPORATE CONTROL TRANSACTIONS 43 7
IN RE DELPHI FINANCIAL GROUP SHAREHOLDER
LITIGATION 442
11.2 SALE OF CORPORATE OFFICE 448
11.3 LOOTING 449
CONTENTS
11.4 TENDER OFFERS: THE BUYER S DUTIES 450
BRASCAN LTD. V. EDPER EQUITIES LTD. 452
11.5 THE HART-SCOTT-RODINO ACT WAITING PERIOD 456
12
FUNDAMENTAL TRANSACTIONS:
MERGERS AND ACQUISITIONS
459
12.1 INTRODUCTION 459
12.2 ECONOMIC MOTIVES FOR MERGERS 460
12.2.1 INTEGRATION AS A SOURCE OF VALUE 460
12.2.2 OTHER SOURCES OF VALUE IN ACQUISITIONS: TAX, AGENCY COSTS,
AND DIVERSIFICATION 461
12.2.3 SUSPECT MOTIVES FOR MERGERS 463
12.2.4 DO MERGERS CREATE VALUE? 464
12.3 THE EVOLUTION OF THE U.S. CORPORATE LAW OF MERGERS 464
12.31 WHEN MERGERS WERE RARE 465
12.3.2 THE MODERN ERA 465
12.4 THE ALLOCATION OF POWER IN FUNDAMENTAL TRANSACTIONS 466
12.5 OVERVIEW OF TRANSACTIONAL FORM 469
12.5.1 ASSET ACQUISITION 469
KATZ V. BREGMAN 470
12.5.2 STOCK ACQUISITION 474
12.5.3 MERGERS 475
12.5.4 TRIANGULAR MERGERS 477
12.6 STRUCTURING THE M&A TRANSACTION 478
12.6.1 TIMING 479
12.6.2 REGULATORY APPROVALS, CONSENTS, AND TITLE TRANSFERS 479
12.6.3 PLANNING AROUND VOTING AND APPRAISAL RIGHTS 480
12.6.4 DUE DILIGENCE, REPRESENTATIONS AND WARRANTIES, COVENANTS,
AND INDEMNIFICATION 480
12.6.5 DEAL PROTECTIONS AND TERMINATION FEES 482
12.6.6 ACCOUNTING TREATMENT 482
12.6.7 A CASE STUDY: EXCERPT FROM TIMBERJACK AGREEMENT AND
PLAN OF MERGER 482
12.7 THE APPRAISAL REMEDY 487
12.7.1 HISTORY AND THEORY 487
12.7.2 THE APPRAISAL ALTERNATIVE IN INTERESTED MERGERS 489
12.7.3 THE MARKET-OUT RULE 491
12.7.4 THE NATURE OF FAIR VALUE 492
12.7.5 DISCOUNTED CASH FLOW ANALYSIS 493
12.7.6 CURRENT DEVELOPMENTS IN APPRAISAL 495
12.8 THE DE FACTO MERGER DOCTRINE 498
HARITON V. ARCO ELECTRONICS, INC. 499
12.9 THE DUTY OF LOYALTY IN CONTROLLED MERGERS 502
12.91 CASH MERGERS OR FREEZE-OUTS 503
KAHN V. LYNCH COMMUNICATIONS SYSTEMS, INC. 505
KAHN V. M&F WORLDWIDE CORP ET AL. 512
CONTENTS XIX
11.9.2 DO CONTROLLING SHAREHOLDERS HAVE A DUTY TO OFFER ONLY A
FAIR PRICE ON THE FIRST,TENDER OFFER STEP OF A TWO STEP
FREEZE-OUT? 520
IN RE CNX GAS CORPORATION SHAREHOLDERS
LITIGATION 521
13
PUBLIC CONTESTS FOR CORPORATE CONTROL
14
TRADING IN THE CORPORATION S SECURITIES
531
13-1 INTRODUCTION 531
13.2 DEFENDING AGAINST HOSTILE TENDER OFFERS 534
UNOCAL CORP. V. MESA PETROLEUM CO. 534
13-3 PRIVATE LAW INNOVATION: THE POISON PILL 541
13.4 CHOOSING A MERGER OR BUYOUT PARTNER: REVLON, ITS SEQUELS,
AND ITS PREQUELS 547
SMITH V. VAN GORKOM 548
REVLON, INC. V. MACANDREWS AND FORBES
HOLDINGS, INC. 556
13.5 PULLING TOGETHER UNOCAL AND REVLON 560
PARAMOUNT COMMUNICATIONS, INC. V. TIME, INC. 561
PARAMOUNT COMMUNICATIONS, INC. V. QVC
NETWORK, INC. 568
ID.6 REGULATION OF TAKEOVERS IN OTHER LEGAL SYSTEMS 582
13.7 BRINGING TAKEOVERS LAW DOWN TO DATE 584
LYONDELL CHEMICAL CO. V. RYAN 584
C&J ENERGY SERVICES, INC. V. CITY OF MIAMI
GENERAL EMPLOYEES AND SANITATION
EMPLOYEES RETIREMENT TRUST 590
138 PROTECTING THE DEAL 593
138.1 NO SHOPS/NO TALKS AND FIDUCIARY OUTS 596
13.8.2 SHAREHOLDER LOCK-UPS 597
OMNICARE, INC. V. NCS HEALTHCARE, INC. 597
13.9 STATE ANTITAKEOVER STATUTES 605
13.9.1 FIRST- AND SECOND-GENERATION ANTITAKEOVER STATUTES
(1968-1987) 605
13.9.2 THIRD-GENERATION ANTITAKEOVER STATUTES 608
13.10 PROXY CONTESTS FOR CORPORATE CONTROL 610
BLASIUS INDUSTRIES, INC. V. ATLAS CORP. 611
617
14.1 COMMON LAW OF DIRECTORS DUTIES WHEN TRADING IN THE
CORPORATION S STOCK 617
GOODWIN V. AGASSIZ 618
XX CONTENTS
14.2 THE CORPORATE LAW OF INSIDER TRADING POST-GOODWIN 621
FREEMAN V. DECIO 622
14.3 § I6(B) AND RULE 16-B UNDER THE 1934 ACT 625
14.4 EXCHANGE ACT § 10(T ) AND RULE 10B-5 627
14.4.1 EVOLUTION OF PRIVATE RIGHT OF ACTION UNDER § 10 628
14.4.2 ELEMENTS OF A 10B-5 CLAIM 629
14.4.3 EARLY RULE 10B-5 INSIDER TRADING LIABILITY: THE EQUAL
ACCESS THEORY 630
SEC V. TEXAS GULF SULPHUR CO. 630
SANTA FE INDUSTRIES, INC. V. GREEN 636
14.4.4 THE EQUAL ACCESS THEORY OF RULE 10B-5 LIABILITY 640
14.4.5 ELEMENTS OF 10B-5 LIABILITY: THE FIDUCIARY DUTY THEORY 641
CHIARELLA V. UNITED STATES 642
14.4.6 THE PROBLEM OF TIPPEES AFTER CHIARELLA 647
DIRKS V. SEC 647
UNITED STATES V. NEWMAN 652
14.4.7 NOTE ON REGULATION FD 660
14.4.8 THE INTRODUCTION OF THE MISAPPROPRIATION THEORY 663
UNITED STATES V. O HAGAN 663
14.4.9 CIVIL LIABILITY, CIVIL FINES, AND CRIMINAL PENALTIES FOR
SECURITY FRAUD VIOLATIONS 666
ELKIND V. LIGGETT & MYERS, INC. 667
14.5 THE OTHER SIDE OF 10B-5: FRAUD-ON-THE-MARKET CLASS ACTIONS 670
14.51 MATERIALITY AND RELIANCE IN FOM CLASS ACTIONS 671
BASIC INC. V. LEVINSON 671
14.5.2 LOSS CAUSATION IN 10B-5 CLASS ACTIONS 677
14.5.3 THE ROLE OF CLASS CERTIFICATION IN RECENT CHALLENGES TO
FOM ACTIONS 680
14.6 INSIDER TRADING AND FOM CLASS ACTIONS: THE ACADEMIC
POLICY DEBATES 683
14.6.1 THE INSIDER-TRADING DEBATE 683
14.6.2 THE ACADEMIC POLICY DEBATE OVER FOM CLASS ACTIONS 687
TABLE OF CASES 693
INDEX 699
|
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| dewey-sort | 3346.73 265 |
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| discipline | Rechtswissenschaft |
| edition | Fifth edition |
| format | Book |
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| indexdate | 2024-12-20T17:58:55Z |
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| isbn | 9781454870616 |
| language | English |
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| physical | XXVI, 721 Seiten |
| publishDate | 2016 |
| publishDateSearch | 2016 |
| publishDateSort | 2016 |
| publisher | Wolters Kluwer |
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| series2 | Aspen casebook series |
| spellingShingle | Allen, William T. Kraakman, Reinier H. 1949- Commentaries and cases on the law of business organization Casebooks lcgft Recht Unternehmen Corporation law United States Business enterprises Law and legislation United States Gesellschaftsrecht (DE-588)4020646-4 gnd |
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| title | Commentaries and cases on the law of business organization |
| title_auth | Commentaries and cases on the law of business organization |
| title_exact_search | Commentaries and cases on the law of business organization |
| title_full | Commentaries and cases on the law of business organization William T. Allen, Jack Nusbaum Professor of Law and Business, New York University, Of Counsel, Wachtell, Lipton, Rosen & Katz; Reinier Kraakman, Ezra Ripley Thayer Professor of Law, Harvard Law School |
| title_fullStr | Commentaries and cases on the law of business organization William T. Allen, Jack Nusbaum Professor of Law and Business, New York University, Of Counsel, Wachtell, Lipton, Rosen & Katz; Reinier Kraakman, Ezra Ripley Thayer Professor of Law, Harvard Law School |
| title_full_unstemmed | Commentaries and cases on the law of business organization William T. Allen, Jack Nusbaum Professor of Law and Business, New York University, Of Counsel, Wachtell, Lipton, Rosen & Katz; Reinier Kraakman, Ezra Ripley Thayer Professor of Law, Harvard Law School |
| title_short | Commentaries and cases on the law of business organization |
| title_sort | commentaries and cases on the law of business organization |
| topic | Casebooks lcgft Recht Unternehmen Corporation law United States Business enterprises Law and legislation United States Gesellschaftsrecht (DE-588)4020646-4 gnd |
| topic_facet | Casebooks Recht Unternehmen Corporation law United States Business enterprises Law and legislation United States Gesellschaftsrecht USA Fallsammlung |
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