Columbia Law School
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Corporate Governance
LTF – The Work Ahead
Discussing the Legal Theory of Finance (LTF) on the Marketplace of Ideas has been a great experience. I want to thank my colleague Kathryn Judge for coming up with the idea and for writing an inspiring blog post that raises …
Religion, Inc., A Reply to Bainbridge
Nationwide, legal battles rage over the ability of secular, for-profit corporations to raise religious freedom objections to government regulation. At the center of the controversy lies the Affordable Care Act’s requirement that employer-based insurance cover contraception. It might be tempting …
Federal Court Holds That E-Mail Received By Employee From Lawyer on His Work E-Mail System Is Not Privileged
In a recent decision, Judge Roslynn Mauskopf, United States District Judge for the Eastern District of New York, denied defendant Christopher Finazzo’s motion in limine to preclude the government from introducing an allegedly privi- leged e-mail that Finazzo’s personal attorney
The Marketplace of Ideas: Bruno Salama, Osny da Silva Filho, and Richard Shamos on Pistor’s Legal Theory of Finance
Elasticity, Incompleteness, and Constitutive Rules
In A legal theory of finance, Katharina Pistor outlines a theory designed to deal with the law-finance paradox, that is, the observation that when “the full force of law is relaxed or suspended to take account of changes in …
Free Markets and the Legal Theory of Finance
Richard Shamos is an Associate in the Investment Management practice at Schulte Roth & Zabel LLP in New York.
The relationship between free markets and government is perhaps one of the most prominent economic issues of modern political economy. In …
Improving Benefit Corporation Law
Haskell Murray is an Assistant Professor of ADR and Business Law at Belmont University, College of Business Administration in Nashville, Tennessee.
Social enterprises use commercial activity to drive revenue and seek the common good. The benefit corporation is the most …
The Jaime Dimon Vote: Corporate Governance at the Crossroads
JPMorgan shareholders’ recent rejection of a proposal to split the CEO and Chairman positions was the most talked about proxy vote during the 2013 annual meeting season. While the 68% to 32% vote against was a resounding victory for Jamie …
The Marketplace of Ideas: Professor Anna Gelpern and James P. Sweeney Weigh in on Pistor’s Legal Theory of Finance
Rules, Institutions, and the Legal Theory of Finance
The International Monetary Fund (IMF) recently published its first major policy treatment of sovereign debt restructuring since 2003. It was prompted by the flawed restructuring in Greece, high profile litigation against Argentina, and recurring crises in smaller …
U.S. District Court Upholds the Conflict Minerals Rule, but Vacates the Resource Extraction Rule
The U.S. District Court for the District of Columbia has released two important rulings this month that speak to the SEC’s ability to promulgate rules. On July 23rd, the court upheld the SEC’s conflict minerals rule (see here) and …
Square Root Voting: A New Approach to Regulation of Chaebol, Keiretsu, and Other Conglomerate Organizations in Asia
The economies of several important Asian countries are dominated by large business groups. Many of them are family controlled, such as those in South Korea (known as “chaebol”), Israel and India. Others are not, the most notable example of which …
The Institute for the Fiduciary Standard Awards Its First “Oscar”
The Institute for the Fiduciary Standard, a non-profit organization dedicated to the advancement of fiduciary principles, has awarded its first ever Tamar Frankel Fiduciary Prize to Robert A.G. Monks, the corporate governance activist and scholar. The Frankel Fiduciary Prize is …
The Marketplace of Ideas: Cathy M. Kaplan and Jeremiah S. Pam Weigh in on Pistor’s Legal Theory of Finance
‘Neither Admit Nor Deny’: Practical Implications of SEC’s New Policy
In a move that appears at once to be shrewd, savvy and largely symbolic, the SEC has modified its longstanding policy that it will not require a defendant to admit or deny liability, or facts that might establish its liability,
The Marketplace of Ideas: Kathryn Judge takes on Katharina Pistor’s Legal Theory of Finance
The CLS Blue Sky Blog presents the second installment of our new series, entitled “The Marketplace of Ideas.” Earlier installments are available here. The intent is to present different perspectives on the same subject by two or more authors.…
Systemic Stability and Fairness: An Analysis of Pistor’s Legal Theory of Finance
In A Legal Theory of Finance, Katharina Pistor introduces a provocative new theory about the relationship between law and finance and the role of law in producing and addressing financial instability. Pistor shows that law plays a constitutive role …
Wachtell Lipton discusses Commissioner Gallagher’s Critiques of Proxy Advisory Firms
The Unnecessary Business Judgment Rule
Lyman Johnson is the Robert O. Bentley Professor of Law at Washington & Lee University School of Law.
A few weeks ago Chancellor Leo Strine, in a widely-heralded ruling, held that the business judgment rule standard of review applied to …