| Preface |
|
xxi | |
| Acknowledgments |
|
xxv | |
| Introduction |
|
1 | (6) |
|
1 Acting Through Others: The Law of Agency |
|
|
|
1.1 Introduction to Agency |
|
|
7 | (1) |
|
1.2 Agency Formation, Agency Termination, and Principal's Liability |
|
|
8 | (18) |
|
|
|
8 | (1) |
|
|
|
9 | (1) |
|
1.2.3 Parties' Conception Does Not Control |
|
|
9 | (1) |
|
Jenson Farms Co. v. Cargill, Inc. |
|
|
9 | (4) |
|
1.2.4 Liability in Contract |
|
|
13 | (1) |
|
1.2.4.1 Actual and Apparent Authority |
|
|
13 | (1) |
|
|
|
14 | (2) |
|
1.2.4.2 Inherent Authority |
|
|
16 | (1) |
|
Gallant Ins. Co. v. Isaac |
|
|
17 | (4) |
|
|
|
21 | (1) |
|
Humble Oil & Refining Co. v. Martin |
|
|
21 | (2) |
|
|
|
23 | (3) |
|
1.2.6 Liability in Tort Under the Apparent Authority Doctrine |
|
|
26 | (1) |
|
1.3 The Governance of Agency (The Agent's Duties) |
|
|
26 | (7) |
|
1.3.1 The Nature of the Agent's Fiduciary Relationship |
|
|
26 | (1) |
|
1.3.2 The Agent's Duty of Loyalty to the Principal |
|
|
27 | (1) |
|
|
|
27 | (2) |
|
1.3.3 The Trustee's Duty to Trust Beneficiaries |
|
|
29 | (1) |
|
|
|
29 | (4) |
|
2 The Problem of Joint Ownership: The Law of Partnership and Related Entities |
|
|
33 | (46) |
|
2.1 Introduction to Partnership |
|
|
34 | (9) |
|
2.1.1 Why Joint Ownership? |
|
|
35 | (1) |
|
The Need To Assemble At-Risk Capital |
|
|
35 | (3) |
|
|
|
|
|
2.1.2 The Agency Conflict Among Co-Owners |
|
|
38 | (1) |
|
|
|
39 | (4) |
|
2.2 Partnership Formation |
|
|
43 | (4) |
|
|
|
43 | (4) |
|
2.3 Relations With Third Parties |
|
|
47 | (5) |
|
2.3.1 Partnership Creditors' Claims Against Departing Partners |
|
|
48 | (1) |
|
2.3.2 Third-Party Claims Against Partnership Property |
|
|
48 | (2) |
|
2.3.3 Claims of Partnership Creditors to Partner's Individual Property |
|
|
50 | (2) |
|
2.4 Partnership Governance and Issues of Authority |
|
|
52 | (2) |
|
National Biscuit Co. v. Stroud |
|
|
52 | (2) |
|
2.5 Termination (Dissolution and Dissociation) |
|
|
54 | (10) |
|
2.5.1 Accounting for Partnership's Financial Status and Performance |
|
|
54 | (1) |
|
Sample Partnership Balance Sheet |
|
|
54 | (1) |
|
Sample Partnership Income Statement |
|
|
55 | (1) |
|
Accounting for Partners' Capital |
|
|
55 | (1) |
|
|
|
56 | (4) |
|
2.5.2 Statutory Dissolution of a Partnership at Will |
|
|
60 | (1) |
|
2.5.3 The Duty of Loyalty and Opportunistic Dissolution |
|
|
61 | (1) |
|
|
|
61 | (3) |
|
2.6 Limited Liability Successors of the General Partnership |
|
|
64 | (15) |
|
2.6.1 The Limited Partnership |
|
|
65 | (2) |
|
2.6.2 The New (Past 40 Years) Limited Liability Kids on the Block |
|
|
67 | (1) |
|
2.6.2.1 The Limited Liability Partnership |
|
|
67 | (1) |
|
2.6.2.2 The Limited Liability Company |
|
|
68 | (1) |
|
2.6.2.2.1 Tax and the Rise of the LLC |
|
|
68 | (1) |
|
2.6.2.2.2 Contractual Flexibility and the LLC |
|
|
69 | (1) |
|
|
|
70 | (6) |
|
2.6.2.2.3 The Success of the LLC |
|
|
76 | (2) |
|
Contribution of U.S. Corporations to Total GDP, 1947-2011 |
|
|
78 | (1) |
|
|
|
79 | (36) |
|
3.1 Introduction to the Corporate Form |
|
|
79 | (2) |
|
3.2 Creation of a Fictional Legal Entity |
|
|
81 | (16) |
|
Citizens United v. Federal Election Commission |
|
|
83 | (6) |
|
3.2.1 A Note on the History of Corporate Formation |
|
|
89 | (5) |
|
3.2.2 The Process of Incorporating Today |
|
|
94 | (1) |
|
3.2.3 The Articles of Incorporation, or "Charter" |
|
|
95 | (1) |
|
3.2.4 The Corporate Bylaws |
|
|
95 | (1) |
|
3.2.5 Shareholders' Agreements |
|
|
96 | (1) |
|
|
|
97 | (3) |
|
Frank Easterbrook & Fischel, Limited Liability and the Corporation |
|
|
99 | (1) |
|
|
|
100 | (2) |
|
3.5 Centralized Management |
|
|
102 | (13) |
|
3.5.1 Legal Construction of the Board |
|
|
104 | (1) |
|
3.5.1.1 The Holder of Primary Management Power |
|
|
104 | (1) |
|
Automatic Self-Cleansing Filter Syndicate Co., Ltd. v. Cunninghame |
|
|
104 | (3) |
|
3.5.1.2 Structure of the Board |
|
|
107 | (1) |
|
3.5.1.3 Formality in Board Operation |
|
|
108 | (1) |
|
3.5.1.4 A Critique of Boards |
|
|
109 | (2) |
|
3.5.2 Corporate Officers: Agents of the Corporation |
|
|
111 | (1) |
|
Jennings v. Pittsburgh Mercantile Co. |
|
|
111 | (4) |
|
4 The Protection of Creditors |
|
|
115 | (38) |
|
|
|
116 | (1) |
|
|
|
117 | (7) |
|
4.2.1 Financial Statements |
|
|
117 | (4) |
|
4.2.2 Distribution Constraints |
|
|
121 | (2) |
|
4.2.3 Minimum Capital and Capital Maintenance Requirements |
|
|
123 | (1) |
|
4.3 Standard-Based Duties |
|
|
124 | (20) |
|
|
|
124 | (3) |
|
4.3.2 Creditor Protection: Fraudulent Transfers |
|
|
127 | (1) |
|
4.3.3 Shareholder Liability |
|
|
128 | (1) |
|
4.3.3.1 Equitable Subordination |
|
|
128 | (1) |
|
|
|
129 | (5) |
|
4.3.3.2 Piercing the Corporate Veil |
|
|
134 | (1) |
|
Sea-Land Services, Inc. v. The Pepper Source |
|
|
135 | (5) |
|
Kinney Shoe Corp. v. Polan |
|
|
140 | (4) |
|
4.4 Veil Piercing on Behalf of Involuntary Creditors |
|
|
144 | (9) |
|
|
|
144 | (9) |
|
5 Normal Governance: The Voting System |
|
|
153 | (64) |
|
5.1 The Role and Limits of Shareholder Voting |
|
|
153 | (3) |
|
5.2 Electing and Removing Directors |
|
|
156 | (4) |
|
|
|
156 | (1) |
|
|
|
157 | (3) |
|
5.3 Shareholder Meetings and Alternatives |
|
|
160 | (1) |
|
5.4 Proxy Voting and its Costs |
|
|
161 | (4) |
|
Rosenfeld v. Fairchild Engine & Airplane Corp. |
|
|
163 | (2) |
|
|
|
165 | (1) |
|
5.6 Shareholder Information Rights |
|
|
166 | (2) |
|
5.7 Techniques for Separating Control from Cash Flow Rights |
|
|
168 | (20) |
|
5.7.1 Circular Control Structures |
|
|
168 | (1) |
|
|
|
169 | (6) |
|
|
|
175 | (1) |
|
|
|
175 | (1) |
|
|
|
|
|
|
|
176 | (7) |
|
5.7.3 Controlling Minority Structures |
|
|
183 | (1) |
|
Cross-Ownership, And Dual Class Equity |
|
|
184 | (4) |
|
|
|
|
|
|
|
|
|
5.8 The Collective Action Problem |
|
|
188 | (1) |
|
Hedge Funds in Corporate Governance and Corporate Control |
|
|
188 | (1) |
|
|
|
|
|
5.9 General Judicial Superintendence of Shareholder Voting |
|
|
189 | (2) |
|
Schnell v. Chris-Craft Industries, Inc. |
|
|
190 | (1) |
|
5.10 The Federal Proxy Rules |
|
|
191 | (22) |
|
5.10.1 Rules 14a-1 Through 14a-7: Disclosure and Shareholder Communication |
|
|
192 | (3) |
|
5.10.2 Rule 14a-8: Shareholder Proposals |
|
|
195 | (11) |
|
5.10.3 Rule 14a-9: The Antifraud Rule |
|
|
206 | (1) |
|
Virginia Bankshares, Inc. v. Sandberg |
|
|
207 | (6) |
|
5.11 State Disclosure Law: Fiduciary Duty of Candor |
|
|
213 | (4) |
|
6 Normal Governance: The Duty Of Care |
|
|
217 | (52) |
|
6.1 Introduction to the Duty of Care |
|
|
217 | (1) |
|
6.2 The Duty of Care and the Need to Mitigate Director Risk Aversion |
|
|
218 | (3) |
|
Gagliardi v. TriFoods International, Inc. |
|
|
219 | (2) |
|
6.3 Statutory Techniques for Limiting Director and Officer Risk Exposure |
|
|
221 | (6) |
|
|
|
221 | (1) |
|
Waltuch v. Conticommodity Services, Inc. |
|
|
221 | (5) |
|
6.3.2 Directors and Officers Insurance |
|
|
226 | (1) |
|
6.4 Judicial Protection: The Business Judgment Rule |
|
|
227 | (9) |
|
Kamin v. American Express Co. |
|
|
228 | (3) |
|
6.4.1 Understanding the Business Judgment Rule |
|
|
231 | (1) |
|
6.4.2 The Duty of Care in Takeover Cases: A Note on Smith v. Van Gorkom |
|
|
232 | (2) |
|
6.4.3 Additional Statutory Protection: Authorization for Charter Provisions Waiving Liability for Due Care Violations |
|
|
234 | (2) |
|
6.5 The Board's Duty to Monitor: Losses "Caused" by Board Passivity |
|
|
236 | (29) |
|
Francis v. United Jersey Bank |
|
|
237 | (6) |
|
Graham v. Allis-Chalmers Manufacturing Co. |
|
|
243 | (4) |
|
In the Matter of Michael Marchese |
|
|
247 | (5) |
|
In re Caremark International Inc. Derivative Litigation |
|
|
252 | (7) |
|
In re Citigroup Inc. Shareholder Derivative Litigation |
|
|
259 | (6) |
|
6.6 "Knowing" Violations of Law |
|
|
265 | (4) |
|
|
|
265 | (4) |
|
7 Conflict Transactions: The Duty Of Loyalty |
|
|
269 | (60) |
|
|
|
270 | (6) |
|
7.1.1 The Shareholder Primacy Norm |
|
|
270 | (3) |
|
A.P. Smith Manufacturing Co. v. Barlow |
|
|
273 | (2) |
|
7.1.2 Constituency Statutes |
|
|
275 | (1) |
|
7.2 Self-Dealing Transactions |
|
|
276 | (5) |
|
7.2.1 The Disclosure Requirement |
|
|
277 | (1) |
|
State ex rel. Hayes Oyster Co. v. Keypoint Oyster Co. |
|
|
277 | (3) |
|
Self-interested Transactions in Corporate Law |
|
|
280 | (1) |
|
|
|
7.3 The Effect of Approval by a Disinterested Party |
|
|
281 | (14) |
|
7.3.1 Early Regulation of Fiduciary Self-Dealing |
|
|
282 | (1) |
|
7.3.2 Judicial Review of Self-Dealing Today: The Limited Role of Safe Harbor Statutes |
|
|
283 | (1) |
|
Cookies Food Products v. Lakes Warehouse |
|
|
284 | (5) |
|
7.3.3 Judicial Review When Transaction Has Been Approved by A Disinterested Majority of the Board |
|
|
289 | (1) |
|
Self-Interested Transactions in Corporate Law |
|
|
289 | (1) |
|
|
|
|
|
290 | (2) |
|
7.3.4 Approval by a Minority of Directors: Special Board Committees |
|
|
292 | (1) |
|
7.3.5 Shareholder Ratification of Conflict Transactions |
|
|
292 | (1) |
|
|
|
293 | (1) |
|
In re Wheelabrator Technologies, Inc. |
|
|
294 | (1) |
|
7.4 Controlling Shareholders and the Fairness Standard |
|
|
295 | (18) |
|
7.4.1 Different Treatment for Controlling Shareholders? |
|
|
295 | (1) |
|
Sinclair Oil Corp. v. Levien |
|
|
296 | (4) |
|
|
|
300 | (8) |
|
7.4.2 Approval by a Board Minority of "Independent" Directors |
|
|
308 | (2) |
|
7.4.3 Loyalty and Due Care Get Commingled: Delaware's Unique Approach to Adjudicating Due Care Claims Against Corporate Directors |
|
|
310 | (3) |
|
7.5 Corporate Opportunity Doctrine |
|
|
313 | (3) |
|
7.5.1 Determining Which Opportunities "Belong" to the Corporation |
|
|
314 | (1) |
|
7.5.2 When May a Fiduciary Take a Corporate Opportunity? |
|
|
315 | (1) |
|
7.6 The Duty of Loyalty in Close Corporations |
|
|
316 | (13) |
|
Donahue v. Rodd Electrotype Co. |
|
|
317 | (5) |
|
Close Corporations and Agency Costs |
|
|
322 | (2) |
|
|
|
|
|
Smith v. Atlantic Properties, Inc. |
|
|
324 | (5) |
|
|
|
329 | (38) |
|
|
|
329 | (1) |
|
8.2 The Challenge of Executive Pay |
|
|
330 | (1) |
|
8.3 A Brief History of Executive Compensation in the U.S. |
|
|
331 | (8) |
|
8.4 Are U.S. CEO's Paid too Much? |
|
|
339 | (4) |
|
Pay Without Performance: Overview of the Issues |
|
|
340 | (2) |
|
|
|
|
|
Pay Without Performance and the Managerial Power Hypothesis: A Comment |
|
|
342 | (1) |
|
|
|
8.5 Judicial Review of Compensation |
|
|
343 | (24) |
|
8.5.1 The Law of Director and Officer Compensation |
|
|
343 | (2) |
|
In re The Goldman Sachs Group, Inc. Shareholder Litigation |
|
|
345 | (8) |
|
8.5.2 The Delaware Courts' Approach to Option Grants |
|
|
353 | (1) |
|
|
|
353 | (3) |
|
8.5.3 The Disney Decision |
|
|
356 | (2) |
|
In Re The Walt Disney Company Derivative Litigation |
|
|
358 | (9) |
|
|
|
367 | (50) |
|
9.1 Distinguishing Between Direct and Derivative Claims |
|
|
367 | (3) |
|
9.2 Solving a Collective Action Problem: Attorneys' Fees and the Incentive to Sue |
|
|
370 | (7) |
|
Fletcher v. A.J. Industries, Inc. |
|
|
371 | (6) |
|
9.3 Standing Requirements |
|
|
377 | (2) |
|
9.4 Balancing the Rights of Boards to Manage the Corporation and Shareholders' Rights to Obtain Judicial Review |
|
|
379 | (31) |
|
9.4.1 The Demand Requirement of Rule 23 |
|
|
380 | (1) |
|
|
|
380 | (5) |
|
|
|
385 | (7) |
|
9.4.2 Special Litigation Committees |
|
|
392 | (1) |
|
Zapata Corp. v. Maldonado |
|
|
392 | (6) |
|
In re Oracle Corp. Derivative Litigation |
|
|
398 | (8) |
|
|
|
406 | (4) |
|
9.5 Settlement and Indemnification |
|
|
410 | (4) |
|
9.5.1 Settlement by Class Representatives |
|
|
410 | (2) |
|
9.5.2 Settlement by Special Committee |
|
|
412 | (1) |
|
Carlton Investments v. TIC Beatrice International Holdings, Inc. |
|
|
412 | (2) |
|
9.6 When Are Derivative Suits in Shareholders' Interests? |
|
|
414 | (3) |
|
10 Transactions in Control |
|
|
417 | (36) |
|
10.1 Sales of Control Blocks: The Seller's Duties |
|
|
419 | (20) |
|
10.1.1 The Regulation of Control Premia |
|
|
419 | (1) |
|
Zetlin v. Hanson Holdings, Inc. |
|
|
420 | (1) |
|
|
|
421 | (6) |
|
10.1.2 A Defense of the Market Rule in Sales of Control |
|
|
427 | (1) |
|
Corporate Control Transactions |
|
|
427 | (5) |
|
|
|
|
|
In Re Delphi Financial Group Shareholder Litigation |
|
|
432 | (7) |
|
10.2 Sale of Corporate Office |
|
|
439 | (1) |
|
|
|
439 | (4) |
|
|
|
440 | (3) |
|
10.4 Tender Offers: The Buyer's Duties |
|
|
443 | (6) |
|
Brascan Ltd. v. Edper Equities Ltd. |
|
|
445 | (4) |
|
10.5 The Hart-Scott-Rodino Act Waiting Period |
|
|
449 | (4) |
|
11 Fundamental Transactions: Mergers And Acquisitions |
|
|
453 | (58) |
|
|
|
453 | (1) |
|
11.2 Economic Motives for Mergers |
|
|
454 | (4) |
|
11.2.1 Integration as a Source of Value |
|
|
454 | (1) |
|
11.2.2 Other Sources of Value in Acquisitions: Tax, Agency Costs, and Diversification |
|
|
455 | (2) |
|
11.2.3 Suspect Motives for Mergers |
|
|
457 | (1) |
|
11.2.4 Do Mergers Create Value? |
|
|
457 | (1) |
|
11.3 The Evolution of the U.S. Corporate Law of Mergers |
|
|
458 | (2) |
|
11.3.1 When Mergers Were Rare |
|
|
458 | (1) |
|
|
|
459 | (1) |
|
11.4 The Allocation of Power in Fundamental Transactions |
|
|
460 | (2) |
|
11.5 Overview of Transactional Form |
|
|
462 | (9) |
|
|
|
463 | (1) |
|
|
|
463 | (4) |
|
|
|
467 | (2) |
|
|
|
469 | (2) |
|
11.5.4 Triangular Mergers |
|
|
471 | (1) |
|
11.6 Structuring the M&A Transaction |
|
|
471 | (9) |
|
|
|
472 | (1) |
|
11.6.2 Regulatory Approvals, Consents, and Title Transfers |
|
|
473 | (1) |
|
11.6.3 Planning Around Voting and Appraisal Rights |
|
|
473 | (1) |
|
11.6.4 Due Diligence, Representations and Warranties, Covenants, and Indemnification |
|
|
473 | (2) |
|
11.6.5 Deal Protections and Termination Fees |
|
|
475 | (1) |
|
11.6.6 Accounting Treatment |
|
|
475 | (1) |
|
11.6.7 A Case Study: Excerpt from Timberjack Agreement and Plan of Merger |
|
|
475 | (5) |
|
11.7 The Appraisal Remedy |
|
|
480 | (7) |
|
11.7.1 History and Theory |
|
|
480 | (2) |
|
11.7.2 The Appraisal Alternative in Interested Mergers |
|
|
482 | (2) |
|
11.7.3 The Market-Out Rule |
|
|
484 | (1) |
|
11.7.4 The Nature of "Fair Value" |
|
|
485 | (1) |
|
11.7.5 Discounted Cash Flow Analysis |
|
|
486 | (1) |
|
11.8 The De Facto Merger Doctrine |
|
|
487 | (4) |
|
Hariton v. Arco Electronics, Inc. |
|
|
488 | (3) |
|
11.9 The Duty of Loyalty in Controlled Mergers |
|
|
491 | (20) |
|
11.9.1 Cash Mergers or Freeze-Outs |
|
|
492 | (3) |
|
11.9.2 What Constitutes Control and Exercise of Control |
|
|
495 | (1) |
|
Kahn v. Lynch Communications Systems, Inc. |
|
|
496 | (6) |
|
11.9.3 Controlling Shareholder Fiduciary Duty on the First Step of a Two-Step Tender Offer |
|
|
502 | (1) |
|
In re CNX Gas Corporation Shareholders litigation |
|
|
503 | (8) |
|
12 Public Contests for Corporate Control |
|
|
511 | (96) |
|
|
|
511 | (4) |
|
12.2 Defending Against Hostile Tender Offers |
|
|
515 | (7) |
|
Unocal Corp. v. Mesa Petroleum Co. |
|
|
515 | (7) |
|
12.3 Private Law Innovation: The Poison Pill |
|
|
522 | (10) |
|
Moran v. Household International, Inc. |
|
|
525 | (7) |
|
12.4 Choosing a Merger or Buyout Partner: Revlon, Its Sequels, and Its Prequels |
|
|
532 | (13) |
|
|
|
532 | (8) |
|
Revlon, Inc. v. MacAndrews and Forbes Holdings, Inc. |
|
|
540 | (5) |
|
12.5 Pulling Together Unocal and Revlon |
|
|
545 | (29) |
|
Paramount Communications, Inc. v. Time, Inc. |
|
|
545 | (8) |
|
Paramount Communications, Inc. v. QVC Network, Inc. |
|
|
553 | (14) |
|
Lyondell Chemical Co. v. Ryan |
|
|
567 | (7) |
|
|
|
574 | (13) |
|
12.6.1 "No Shops/No Talks" and "Fiduciary Outs" |
|
|
577 | (1) |
|
12.6.2 Shareholder Lock-ups |
|
|
578 | (1) |
|
Omnicare, Inc. v. NCS Healthcare, Inc. |
|
|
579 | (8) |
|
12.7 State Antitakeover Statutes |
|
|
587 | (7) |
|
12.7.1 First- and Second-Generation Antitakeover Statutes (1968-1987) |
|
|
587 | (1) |
|
CTS Corp. v. Dynamics Corp. of America |
|
|
588 | (4) |
|
12.7.2 Third-Generation Antitakeover Statutes (1987-2000) |
|
|
592 | (2) |
|
12.8 Proxy Contests for Corporate Control |
|
|
594 | (7) |
|
Blasius Industries, Inc. v. Atlas Corp. |
|
|
595 | (6) |
|
12.9 The Takeover Arms Race Continues |
|
|
601 | (6) |
|
|
|
601 | (2) |
|
12.9.2 Mandatory Pill Redemption Bylaws |
|
|
603 | (4) |
|
13 Trading in the Corporation's Securities |
|
|
607 | (78) |
|
13.1 Common Law of Directors' Duties When Trading in the Corporation's Stock |
|
|
607 | (5) |
|
|
|
608 | (4) |
|
13.2 The Corporate Law of Fiduciary Disclosure Today |
|
|
612 | (6) |
|
13.2.1 Corporate Recovery of Profit from "Insider" Trading |
|
|
612 | (1) |
|
|
|
613 | (4) |
|
13.2.2 Board Disclosure Obligations Under State Law |
|
|
617 | (1) |
|
13.3 Exchange Act § 16(b) and Rule 16 |
|
|
618 | (3) |
|
13.4 Exchange Act § 10(b) and Rule 10b-5 |
|
|
621 | (64) |
|
13.4.1 Evolution of Private Right of Action Under §10 |
|
|
621 | (2) |
|
13.4.2 Elements of a 10b-5 Claim |
|
|
623 | (1) |
|
13.4.2.1 Elements of a 10b-5 Claim: False or Misleading Statement or Omission |
|
|
624 | (1) |
|
SEC v. Texas Gulf Sulphur Co. |
|
|
624 | (6) |
|
Santa Fe Industries Inc. v. Green |
|
|
630 | (7) |
|
13.4.2.2 Elements of 10b-5 Liability: The Equal Access Theory |
|
|
637 | (1) |
|
13.4.2.3 Elements of 10b-5 Liability: The Fiduciary Duty Theory |
|
|
638 | (2) |
|
Chiarella v. United States |
|
|
640 | (4) |
|
|
|
644 | (9) |
|
United States v. Chestman |
|
|
653 | (5) |
|
|
|
658 | (4) |
|
13.4.2.4 Elements of 10b-5 Liability: Materiality |
|
|
662 | (1) |
|
|
|
662 | (3) |
|
13.4.2.5 Elements of 10b-5 Liability: Scienter |
|
|
665 | (3) |
|
13.4.2.6 Elements of 10b-5 Liability: Standing, in Connection with the Purchase or Sale of Securities |
|
|
668 | (1) |
|
13.4.2.7 Elements of 10b-5 Liability: Reliance |
|
|
669 | (1) |
|
|
|
669 | (5) |
|
13.4.2.8 Elements of 10b-5 Recovery: Causation |
|
|
674 | (1) |
|
13.4.3 Remedies for 10b-5 Violations |
|
|
675 | (1) |
|
Elkind v. Liggett & Myers, Inc. |
|
|
675 | (4) |
|
13.4.4 The Academic Debate |
|
|
679 | (2) |
|
13.4.4.1 Insider Trading and Informed Prices |
|
|
681 | (1) |
|
13.4.4.2 Insider Trading as a Compensation Device |
|
|
682 | (3) |
| Table of Cases |
|
685 | (6) |
| Index |
|
691 | |
