Topic
Shareholder Value
51 published works
Securities Law Prof Blog
Bebchuk et alia on Staggered Boards
Staggered Boards and the Wealth of Shareholders: Evidence from a Natural Experiment, by Lucian A. Bebchuk, Harvard University - Harvard Law School; National Bureau of Economic Research (NBER); European Corporate…
M & A Law Prof Blog
Statutory Fiduciary Duties, Unocal, and Revlon outside Delaware
By CorporateAcquisitions MergerLawBlogger
I've written on this before (and also here, and here). In the 1980s during the great takeover boom and hollowing out of the industrial heartland, many states adopted amendments to their…
Litigation & Trial
eBay v. Newmark: Al Franken Was Right, Corporations Are Legally Required To Maximize Profits
[Update, May 2012: Leo E. Strine, Jr., Chancellor of the Delaware Court of Chancery, referenced this post in his thoughtful new law review article, Our Continuing Struggle With the Idea That For-Profit Corporations…
Securities Law Prof Blog
Millon on Enlightened Shareholder Value
Enlightened Shareholder Value, Social Responsibility, and the Redefinition of Corporate Purpose Without Law, by David Millon, Washington and Lee University - School of Law, was recently posted on SSRN. Here…
M & A Law Prof Blog
Do ATP’s Harm Stockholders?
By CorporateAcquisitions MergerLawBlogger
Straska and Waller have a paper forthcoming in the Journal of Corporate Finance, Do Antitakeover Protections Harm Shareholders? They think not. Abstract: We reexamine the negative relation between firm value and the…
M & A Law Prof Blog
What must a Board do to satisfy its Revlon duties?
By CorporateAcquisitions MergerLawBlogger
Milbank, Tweed reviews the decision of the Delaware Court of Chancery in Police & Fire Ret. Sys. of the City of Detroit v. Bernal, et al. and concludes [The Delaware…
Nonprofit Law Prof Blog
AIG Responds to Story About Former CEO’s Swiss Foundation
In response to my previous blog post regarding AIG, I received the following email from Mark Herr in AIG's Media Relations department, which I reproduce here with his permission.LHMMr. Mayer,Iām…
Delaware Corporate & Commercial Litigation Blog
Hedge Funds and Shareholder Value
The New York Times, had an article here, yesterday that summarized a study indicating that activist hedge funds that take aggressive roles in corporate governance issues often have a positive long-term impact…
Securities Law Prof Blog
In Defense of Private Equity
Is there a backlash against private equity funds? Yes, says a WSJ columnist, citing Clear Channel Communications, and it is not deserved. The question is why can't public company managers…
Pension Risk Matters
Dividends, Pensions and California Chaos
According to CFO.com, the State of California may soon prohibit a company from paying out dividends or buying back shares until all required defined benefit plan payments have been made.…