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...

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...

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...

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...

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...

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...

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...