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It is well understood that the equity of an insolvent firm can trade for a positive price so long as there is some positive probability that the firm will become solvent at some future point. Currently, however, this insight exists in the case law in an informal sense, while its use in the...
Persistent link: https://www.econbiz.de/10012854945
In this case study, the former CEO of a large telecommunication company filed a lawsuit against her former employer that alleged that the company's contract breach resulted in the loss ESO grants and diminished the value of the vested ESOs that she held at the time of the alleged contract...
Persistent link: https://www.econbiz.de/10013147170
spikes in firm-specific price volatility, a pattern that poses a puzzle in terms of existing financial theory. The most …
Persistent link: https://www.econbiz.de/10010259665
violations of a legal rule. This Article analyzes that alternative, and it offers a theory for when remedies should be announced …
Persistent link: https://www.econbiz.de/10013113406
This paper investigates the impact of legal institutions on the external governance role of equity analysts in enhancing the corporate information environment. By analysing a sample of Chinese listed firms between 2003 and 2013, we find that analyst coverage is positively related to stock price...
Persistent link: https://www.econbiz.de/10012972921
This paper investigates the impact of legal institutions on the external governance role of equity analysts in enhancing the corporate information environment. By analysing a sample of Chinese listed firms between 2003 and 2013, we find that analyst coverage is positively related to stock price...
Persistent link: https://www.econbiz.de/10012974603
The Supreme Court recently held that in reverse-payment settlements of drug patent disputes, anticompetitive effects can be inferred if the reverse payment exceeds the patent holder's anticipated litigation costs, absent some offsetting justification. Application of this standard is problematic...
Persistent link: https://www.econbiz.de/10013004927
This report argues that traditional REIT spinoffs are fairly well supported by current law and that the common criticisms of these transactions generally miss the mark. It concludes that (1) Treasury and the IRS over time have adopted a fairly comprehensive definition of real property for REIT...
Persistent link: https://www.econbiz.de/10013024216
This brief addendum on Rubin focuses more particularly on its insolvency aspects. As Justice Handley has noted, the judgment of Lord Collins gives the quietus to the burgeoning doctrine of "modified" universalism which had held sway since the opinion in the Privy Council of Lord Hoffmann in...
Persistent link: https://www.econbiz.de/10013025427