Securitizing audit failure risk: an alternative to caps on damages.
INTRODUCTION I. AUDIT FAILURE: RISK AND CONTROL A. Audit Constituents and Stakes B. Public Policy 1. Audit Effectiveness 2. Deterrence 3. The Insurance Argument C. The Role of Insurance 1. Optimality 2. Statistical Independence 3. Limiting Probability 4. Limiting Magnitude 5. Distributing Residual Risk II. EXISTING INSURANCE FOR AUDIT...

From bricks to pajamas: the law and economics of amateur journalism.
ABSTRACT Weblogs have proliferated rapidly in recent years, attracting significant attention and generating important legal issues. Yet so far no coherent economic framework for addressing these issues exists. This Article begins to develop such a framework. It views blogs as the vanguard of what might be called...

Endangered species, lassoes, and unmet promises.
I. INTRODUCTION II. A LEARNING EXPERIENCE III. DOING BETTER NEXT TIME A. Endangered Species B. Lassoes C. Unmet Promises IV. CONCLUSION I. INTRODUCTION The Eighth Circuit, in its famously evocative scolding of the Federal Communications Commission CFCC") for overstepping its jurisdiction, wrote that the division...

An uphill battle: the difficulty of deterring and detecting perpetrators of Internet stock fraud.
I. INTRODUCTION When fifteen-year-old Jonathon Lebed of New Jersey was convicted of securities fraud through the Internet by the Securities and Exchange Commission ("SEC") in September of 2000, it brought national attention to an already existing question in the investment world. (1) That is, "Where is the...

Corporate governance: Sarbanes-Oxley Act, related legal issues, and global comparisons.
"I don't sense an enthusiastic pursuit of the fundamental principles of corporate governance even today.... I see a reluctant minimalist approach, staying one step ahead of the regulators more than anything else.... I am trying to find my own way in getting a stronger board and stronger shareholder involvement...

Corporate speech, securities regulation, and an institutional approach to the First Amendment.
ABSTRACT Does the First Amendment shield politically tinged corporate speech from the compelled disclosure and reporting requirements embedded in the U.S. securities laws? The question arises in the securities regulation context because of an impending jurisprudential train wreck between the Supreme Court's commercial speech doctrine and its...

The Qualified Legal Compliance Committee under Sarbanes-Oxley: enlisting independent directors to enhance corporate integrity.
INTRODUCTION The Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) (1) imposes specific requirements on corporate attorneys that have broad implications on corporate governance and corporate organization. With the adoption of Sarbanes-Oxley, Congress and the SEC seek to limit corporate misconduct through two devices. First, they expand the accountability of...

Avalon Pharmaceuticals Closes $10 Million in Private Placement of Common Stock to Institutional Investors.
GERMANTOWN, Md., Jan. 23 /PRNewswire-FirstCall/ -- Avalon Pharmaceuticals, Inc. (Nasdaq and NYSE ArcaEx(R): AVRX), today announced that it has closed the $10 million private placement to institutional investors previously announced on January 22, 2007. A total of 3 million shares of Avalon's common stock were issued in the private...

Securities regulation, 6th ed.
9781599411552 Securities regulation, 6th ed. Soderquist, Larry D. and Theresa A. Gabaldon. Thomson West 2006 860 pages $106.50 Hardcover University casebook series KF1438 Soderquist (law, Vanderbilt U.) and Gabaldon...

Selling death short: the regulatory and policy implications of viatical settlements.
INTRODUCTION In recent years, the escalation of AIDS into a national crisis has devastated its victims' health as well as their finances.(1) This crisis has generated the need for innovations both in medical approaches to the treatment of AIDS and HIV, and in financial options available to...