Insider trading, the most conspicuous misbehaviour of the stock market, is additionally one of the most troublesome & difficult one to crack by regulators around the globe. Insider trading is a term dependent upon numerous definitions and meanings and it envelops both lawful and disallowed...

Should managers be liable for ill-conceived business decisions? One answer is given by U.S. courts, which almost never hold managers liable for their mistakes. In this paper, we address the question in a theoretical model of delegated decision making. We find that courts should indeed be lenient...

This Article seeks to challenge the corporate-constructed image of American business and American industry. By focusing on the automotive industry and particularly on the tenuous relationship between the rhetoric of automotive industry advertising and the realities of doctrinal corporate law, I...

This paper focuses on the issue of whether shareholder litigations brought in the U.S. - namely, derivative suits and securities class actions - and their equivalent in the Italian law system, achieve their principal regulatory goal of deterring corporate directors and officers from engaging in...

This article is based on a lecture at Nihon College of Law in Tokyo and draws on William K.S. Wang & Marc I. Steinberg, Insider Trading (Oxford University Press 3d ed. 2010); and William K.S. Wang, Stock Market Insider Trading: Victims, Violators, and Remedies–Including an Analogy to Fraud in...

The U.S. residential housing market collapse illustrates the consequences of ignoring risk while funding mortgage borrowing. Collateral over-valuation was a foundational piece of the crisis. Over the past few decades, secondary markets, securitization, policy and psychology increased the flow of...

This article discusses a decision both European Union Member States and states in the United States must make: whether to raise their compulsory automobile insurance minimum amounts. The authors review a case study from the United States, the Commonwealth of Pennsylvania, and conclude a proposed...

Top law firms are notoriously competitive, fighting for prime clients and matters. But some of the most elite firms are also deeply cooperative, willingly sharing key details about their finances and strategy with their rivals. More surprisingly, they pay handsomely to do so. Nearly half of the...

A behavioral divide cuts across the Atlantic. Despite the recent surge of behavioral analysis in European academia, a scrutiny of decisions by courts and regulatory agencies in the US and the EU reveals striking differences: While in the US rulings by courts and regulatory agencies progressively...

This article describes and evaluates from a comparative perspective the approach to tort liability for pure economic loss adopted in the Restatement (Third) Torts: Liability for Economic Harm. The analysis highlights three fundamental issues: whether a claim in tort can arise concurrently with a...