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Corporate & Securities Law Blog Posts from July 29, 2010

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Corporate & Securities Law Posts (July 29, 2010)

Intel Settlement Watch Part II

While Intel Corporation nears its settlement deadline with the Federal Trade Commission, it received good news from a federal district court in Delaware evaluating the evidence of alleged consumer harm from the discounts Intel offers to buyers. It is also very important to note that this pass from a US court applying standards of consumer [...]
Posted on Truth on the Market on July 29, 2010 at 11:40 PM

Innovation, Competition and Incentives for R&D

Posted by D. Daniel Sokol Martin Woerter, ETH Zurich, Swiss Economic Institute (KOF), Christian Rammer, Centre for European Economic Research (ZEW) - Industrial Economics and International Management Research, and Spyros Arvanitis, Swiss Federal Institute of Technology Zurich (ETH) - Swiss...
Posted on AntitrustProf Blog on July 29, 2010 at 3:30 PM

Ribstein & Lipshaw 2010 Supplement and thoughts on curriculum

The latest supplement to Ribstein & Lipshaw Unincorporated Business Entities (4th Edition, 2009) is available online at my website. There you can also find the Supplement to the Teacher’s Manual. This edition of my long-running casebook and its exhaustive teacher’s manual have been well-received. Ultimately I hope and expect this course
Posted on Truth on the Market on July 29, 2010 at 1:49 PM

Indiana Adopts Rules Coordinating with Indiana Securities Act

Proposed rule amendments, repeals and new rules coordinating with the Indiana Securities Act that took effect July 1, 2008 were adopted by the Indiana Securities Division, effective July 28, 2010. The new rules and existing rule changes pertain to federal covered securities, exemptions, registrations of securities, broker-dealers, agents, investment ad
Posted on Jim Hamilton's World of Securities Regulation on July 29, 2010 at 1:26 PM

The Influence of Collusion on Price Changes: New Evidence from Major Cartel Cases

Posted by D. Daniel Sokol Korbinian von Blanckenburg, Alexander Geist, and Konstantin A. Kholodilin, German Institute for Economic Research (DIW Berlin) explain The Influence of Collusion on Price Changes: New Evidence from Major Cartel Cases. ABSTRACT: In this paper, we...
Posted on AntitrustProf Blog on July 29, 2010 at 12:45 PM

Comparison of Merger Impact on the Profitability Measures of EU Domestic & Cross Border Bank Acquirers

Posted by D. Daniel Sokol Matthias Nnadi, Coventry University and Sailesh Tanna, Coventry University - Department of Economics have anj empirical paper on Comparison of Merger Impact on the Profitability Measures of EU Domestic & Cross Border Bank Acquirers. ABSTRACT:...
Posted on AntitrustProf Blog on July 29, 2010 at 10:00 AM

The Obama tax increases

The biggest and most important issue for the next few months won’t be immigration, the New Black Panthers, or even the war in Afghanistan. Huge tax increases are headed our way, and it raises tough questions. On the one hand, signaling we are serious about deficits is likely a good thing. But, since politicians haven’t [...]
Posted on Truth on the Market on July 29, 2010 at 9:27 AM

Capitalism as a solution for poverty

SKS Microfinance, India’s largest microfinance lender, did a $354 million IPO Wednesday. This may encourage others to do likewise. The result would be much more money for very small loans. Sounds good, but it’s meeting objections: A publicly traded company’s traditional obligation is to make money for its shareholders, while the missi
Posted on Truth on the Market on July 29, 2010 at 7:28 AM

On Forbes.com: Let the whistleblowers trade

Dodd-Frank has elaborate provisions for encouraging reporting of fraud by rewarding whistleblowers. In my Forbes.com column for this week I propose another idea to elicit information: allowing insider trading. Filed under: financial regulation, insider trading, securities regulation
Posted on Truth on the Market on July 29, 2010 at 7:07 AM

FTC Funded For Fiscal Year 2011

Posted by D. Daniel Sokol BNA reports that the "Senate Appropriations Committee's Financial Services and General Government Subcommittee on July 27 approved a FY 2011 spending bill that includes $314 million for the Federal Trade Commission."
Posted on AntitrustProf Blog on July 29, 2010 at 5:15 AM

Supermarket and Gasoline: An Empirical Study of Bundled Discount

Posted by D. Daniel Sokol Zhongmin Wang, Northeastern University has posted Supermarket and Gasoline: An Empirical Study of Bundled Discount. ABSTRACT: Bundled discount is a widely used business practice and has been the key issue of prominent antitrust cases, yet...
Posted on AntitrustProf Blog on July 29, 2010 at 4:00 AM

Another Oil Spill, Another Slow Response

I'm traveling in Michigan to see family, and I was welcomed to my beautiful birth state by another oil spill (see here). This one, too, seems to is facing criticism of inadequate resources. More to follow, I'm sure. --Joshua Fershee
Posted on Business Law Prof Blog on July 28, 2010 at 9:51 PM

UK Financial Services Secretary Wants Non-Protectionist EU Hedge Fund Legislation

The new Financial Services Secretary reaffirmed the UK position that the pending EU legislation on hedge funds and private equity funds must be proportionate, workable and non-discriminatory. In remarks at a London private equity event, Mark Hoban said that the final legislation must ensure that European and international measures support the governmen
Posted on Jim Hamilton's World of Securities Regulation on July 28, 2010 at 3:59 PM

The Effect of Competition on Trade Patterns: Evidence from the Collapse of International Cartels

Posted by D. Daniel Sokol Margaret C. Levenstein, University of Michigan at Ann Arbor - Survey Research Center, University of Michigan - Ross School of Business, Jagadeesh Sivadasan, University of Michigan - Stephen M. Ross School of Business, and Valerie...
Posted on AntitrustProf Blog on July 28, 2010 at 3:30 PM

German Legislation Bans Naked Short Selling and Naked Credit Derivatives

German legislation that took effect July 27, 2010 prohibits naked short-selling transactions in shares and certain debt securities as well as naked credit derivatives. The Act on the Prevention of Improper Securities and Derivatives Transactions (Gesetz zur Vorbeugung gegen missbräuchliche Wertpapier und Derivategeschäfte) would exempt from the ban in
Posted on Jim Hamilton's World of Securities Regulation on July 28, 2010 at 3:14 PM

Microsoft LLC

Holman Jenkins, writing in today’s WSJ, criticizes Steve Ballmer’s management failures that have left its investors with a decade of “dead money.” At bottom, this is a corporate governance problem. Manifestly, the solution is not to let management keep stepping up to the plate with shareholder money and promising home runs that
Posted on Truth on the Market on July 28, 2010 at 2:01 PM

The shareholder maximization canard

Al Franken buys the old idea that corporate managers have a duty to maximize shareholder value. Todd Henderson appropriately sets Franken (and others ignorant of corporate law) straight. Todd reminds them that the business judgment rule gives managers the flexibility to do pretty much what they want, including help society, as long as they don’t
Posted on Truth on the Market on July 28, 2010 at 1:50 PM

A Theory of Quality Competition in Newspaper Joint Operating Agreements

Posted by D. Daniel Sokol Aaron Cranes and Charles J. Romeo, both Economic Analysis Group US Department of Justice Antitrust Division, provide A Theory of Quality Competition in Newspaper Joint Operating Agreements. ABSTRACT: Newspaper Joint Operating Agreements (JOAs) are long...
Posted on AntitrustProf Blog on July 28, 2010 at 12:45 PM

The government reward for doing a bad job

In the world of competitive markets, if one does a bad job, the typical result is less resources, less power, and more oversight by interested parties. If a firm makes a bad product, there will be fewer profits, lost market share, and additional attention from Consumer Reports, plaintiffs’ lawyers, and regulators. In the world of [...]
Posted on Truth on the Market on July 28, 2010 at 12:24 PM

Four Questionable Rationales for the Patent Misuse Doctrine

Posted by D. Daniel Sokol Tom Cotter, University of Minnesota Law School has posted Four Questionable Rationales for the Patent Misuse Doctrine. ABSTRACT: When a patent infringement defendant succeeds in proving that the patent owner has misused its patent, the...
Posted on AntitrustProf Blog on July 28, 2010 at 10:00 AM

Does Hospital Competition Improve Efficiency? An Analysis of the Recent Market-Based Reforms to the English NHS

Posted by D. Daniel Sokol Zack Cooper, Stephen Gibbons, Simon Jones, and Alistair McGuire ask Does Hospital Competition Improve Efficiency? An Analysis of the Recent Market-Based Reforms to the English NHS. ABSTRACT: This paper uses a difference-in-difference estimator to test...
Posted on AntitrustProf Blog on July 28, 2010 at 4:00 AM

The SEC expands the comment process...

...perhaps first and foremost to ease the burden of the massive rulemaking that the financial reform foisted upon it. See today's NY Times ("SEC Expands Process For Public Comments On New Financial Rules" by Edward Wyatt) for details. Personally, I...
Posted on Business Law Prof Blog on July 28, 2010 at 12:00 AM

2010-07-29 Posts in other Subject Areas

Legal News (171), Academic (148), Religion & Law (113), Criminal Law (84), Legal Commentary (77), Loan Modification (73), Celebrity Law (66), Legal Research (63), Intellectual Property Law (44), Personal Injury Law (44), International Law (41), Litigation (38), Federal Judiciary (34), Politics (28), Health Law (27), Taxation & Estate Planning (27), Election-Campaign Law (26), Indiana (26), Corporate & Securities Law (22), Constitutional Law (22), Legal Niches (21), New Law Blogs (20), Labor & Employment Law (16), Bankruptcy (15), Real Estate & Property Law (15), Bailout (14), Estate Planning (13), Corporate Governance (12), Family Law (12), In-House Counsel (11), Practice Management (11), Ethics (11), Law Humor (10), Miscellaneous (9), Legal Writing (9), Copyright Law (9), Legal Marketing & PR (9), Class Action (9), Consumer Law (7), Media & Entertainment Law (7), Immigration Law (7), Patent Law (7), Disability Law (6), Legal History (5), Ohio (5), Public Defense (4), Personal Blogs (4), Florida (4), Litigation Support (3), Energy Law (3), Elder Law (3), Obama Citizenship (2), State Courts (2), Legal Malpractice (2), Local Law Blogs (2), Paralegals & Legal Secretaries (2), Law Students (2), Law Technology (1), Benefits & ERISA Law (1), Human Rights Law (1), Insurance Law (1), Arbitration & Mediation (1), Appellate Law (1), Kentucky (1),