The collapse in the market for exotic financial instruments, the liquidity crisis in major financial institutions and the government bailouts in 2008-09 illustrate the massive social cost of financial risk taking. The credit crisis of 2008-2009 also convinced many observers that the level of...

US courts have analyzed the question of whether Section 10(b) of the 1934 Securities and Exchange Act and SEC Rule 10b-5 can be applied to foreign litigants in securities fraud cases as a question of subject matter jurisdiction. The most frequently used approach is the Second Circuit’s...

This article evaluates the ambiguities and shortcomings of the U.S. Supreme Court decision in Morrison with a particular emphasis on the implications of the recent Porsche decision in the Southern District of New York. We conclude that the ambiguities in Morrison and the implications of...

The decisions of the European Court of Justice in Centros and then in Inspire Art open up the possibility of regulatory competition in European corporate law. Now that EU Member States have to recognize each other's charters, some Member States could enact and enforce corporate law preferred by...