February, 2010
Subverting Shareholder Rights: Lessons from News Corp.’s Migration to Delaware
Feb. 3, 2010—This Article critically analyzes News Corp.’s reincorporation in Delaware against the backdrop of two major contemporary corporate governance debates relating to shareholder empowerment and convergence theory. Legal scholars opposing greater shareholder power often argue that the lack of shareholder participatory rights under U.S. law provides evidence that such rights are neither desired nor valued by...
Evaluating Norms: An Empirical Analysis of the Relationship between Norm-Content, Operator, and Charitable Behavior
Feb. 3, 2010—There are several kinds of norms, and this variety can lead to spirited debate about the best norm to employ for the regulation of a particular activity. Should the norm be mandatory or aspirational? A rule or a standard? One important area in which norm-choice has come to the fore is the American Bar Association’s...
The Quasi-Class Action Method of Managing Multi-District Litigation: Problems and a Proposal
Feb. 3, 2010—This Article uses three recent multi-district litigations ("MDLs") that produced massive settlements-Guidant ($240 million), Vioxx ($4.85 billion), and Zyprexa($700 million)-to study the emerging quasi-class action approach to MDL management. This approach has four components: (1) judicial selection of lead attorneys, (2) judicial control of lead attorneys’ compensation, (3) forced fee transfers from non-lead lawyers to...
Cooperative Interbranch Federalism: Certification of State-Law Questions by Federal Agencies
Feb. 3, 2010—When an unresolved state-law question arises in federal court, the court may certify it to the relevant state court. The practice of certification from one court to another has been widely adopted and has been touted as “help[ing] build a cooperative judicial federalism.” This Article proposes that states promote cooperative interbranch federalism by allowing federal...