Commentaries and cases on the law of business organization:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York, NY
Aspen Publ.
2007
|
| Edition: | 2. ed. |
| Subjects: | |
| Online Access: | Table of contents only Inhaltsverzeichnis |
| Physical Description: | XXVI, 737 S. |
| ISBN: | 0735563136 9780735563131 |
Staff View
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV022389890 | ||
| 003 | DE-604 | ||
| 005 | 20070726 | ||
| 007 | t | ||
| 008 | 070417s2007 xxu |||| 00||| eng d | ||
| 010 | |a 2006037953 | ||
| 020 | |a 0735563136 |9 0-7355-6313-6 | ||
| 020 | |a 9780735563131 |9 978-0-7355-6313-1 | ||
| 035 | |a (OCoLC)612254344 | ||
| 035 | |a (DE-599)BVBBV022389890 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c US | ||
| 049 | |a DE-M382 |a DE-19 | ||
| 050 | 0 | |a KF1413 | |
| 082 | 0 | |a 346.73/065 | |
| 100 | 1 | |a Allen, William T. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Commentaries and cases on the law of business organization |c William T. Allen, Reinier Kraakman, Guhan Subramanian |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a New York, NY |b Aspen Publ. |c 2007 | |
| 300 | |a XXVI, 737 S. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Unternehmen | |
| 650 | 4 | |a Corporation law |z United States |v Cases | |
| 650 | 4 | |a Business enterprises |x Law and legislation |z United States |v Cases | |
| 650 | 0 | 7 | |a Gesellschaftsrecht |0 (DE-588)4020646-4 |2 gnd |9 rswk-swf |
| 651 | 4 | |a USA | |
| 651 | 7 | |a USA |0 (DE-588)4078704-7 |2 gnd |9 rswk-swf | |
| 655 | 7 | |8 1\p |0 (DE-588)4153616-2 |a Fallsammlung |2 gnd-content | |
| 689 | 0 | 0 | |a USA |0 (DE-588)4078704-7 |D g |
| 689 | 0 | 1 | |a Gesellschaftsrecht |0 (DE-588)4020646-4 |D s |
| 689 | 0 | |8 2\p |5 DE-604 | |
| 700 | 1 | |a Kraakman, Reinier H. |d 1949- |e Sonstige |0 (DE-588)133072959 |4 oth | |
| 700 | 0 | |a Iraianban |d 1955- |e Sonstige |0 (DE-588)121063348 |4 oth | |
| 856 | 4 | |u http://www.loc.gov/catdir/toc/ecip074/2006037953.html |3 Table of contents only | |
| 856 | 4 | 2 | |m SWBplus Fremddatenuebernahme |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015598737&sequence=000005&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-015598737 | ||
| 883 | 1 | |8 1\p |a cgwrk |d 20201028 |q DE-101 |u https://d-nb.info/provenance/plan#cgwrk | |
| 883 | 1 | |8 2\p |a cgwrk |d 20201028 |q DE-101 |u https://d-nb.info/provenance/plan#cgwrk | |
Record in the Search Index
| _version_ | 1804136447770361856 |
|---|---|
| adam_text | CONTENTS PREFACE ACKNOWLEDGMENTS XXI XXV INTRODICTION TO THE LAW OF
ENTERPRISE ORGANIZATION 1.1 KI ; HCII-: :Y AND THE SOCIAL SIGNII K.ANCE
OF ENTERPRISE ORGANIZATION 111 WEALTH CREATION AND THE CORPORATE FORM OF
ORGANIZATION 1.1.2 V C HAT DO VIE MEAN BY EFFICIENCY? 1.1.2.1 PARETO
EFFICIENCY 1.1.2.2 KALCLOR-HICKS EFFICIENCY 1.2 L.W FROM INSIDE AND ON:
SHARED MEANINGS AND SKEPTICISM 1.2.1 THE OUTSIDE AND THE INSIDE 1.2.2
FAIRNESS AND EFFICIENCY 1.3 DEVELOPMENT OF THE MODERN THEORY OF THE FIRM
1.3.1 RONALD COASE S 193 T INSIGHT 1.3 2 TRANSACTIONS COST THEORY 1.3.3
AGENCY COST THEORY 3 3 -I 5 5 6 8 9 9 10 ACTING THROIGH OTHERS: THE LAW
OE AGKNCY 15 2. 1 INTKODI CTION TO AGENCY 2.2 AGI-NCV FORM.VI ION,
A(.I:NCI TERMINATION, AND PRINCIPAL S 2.2. 1 FORMATION 2.2.2 TERMINATION
2.2.3 PARTIES CONCEPTION DOES NOT CONTROL JENSOII FARMS CO. V. CURG/LL.
INC. 16 10 1 18 IS XI XII CONTENTS 2.2.4 LIABILITY IN CONTRACT 22
2.2.4.1 ACTUAL AND APPARENT AUTHORITY 22 WHITE V. THOMAS 22 2.2.4.2
INHERENT AUTHORITY 25 GALLANT INS. CO. V. ISAAC 26 2.2.5 LIABILITY IN
TORT 30 HUMBLE OIL & REFINING CO. V. MARTIN 30 HOOVER V. SUN OIL CO. 32
2.3 THE GOVERNANCE OF AGENCY (THE AGENT S DUTIES) 34 2.3.1 THE NATURE OF
THE AGENT S FIDUCIARY RELATIONSHIP 34 2.32 THE AGENT S DUTY OF LOYALTY
TO THE PRINCIPAL 35 TARNOWSKI V. RESOP 36 2.3.3 THE TRUSTEE S DUTY TO
TRUST BENEFICIARIES 38 /// RE GLEESON 38 THE PROBLEM OF JOINT OWNERSHIP:
THE LAW OF PARTNERSHIP 41 3.1 INTRODUCTION TO PARTNERSHIP 41 3 1.1 WHY
HAVE JOINT OWNERSHIP? 42 KLEIN & COFFEE, THE NEED TO ASSEMBLE AT-RISK
CAPITAL 43 312 THE AGENCY CONFLICT AMONG CO-OWNERS 45 MEINHARD V. SALMON
45 32 PARTNERSHIP FORMATION 50 VOHLAND V. SWEET 50 33 RELATIONS WITH
THIRD PARTIES 53 3.3.1 WHO IS A PARTNER? 53 332 THIRD-PARTY CLAIMS
AGAINST DEPARTING PARTNERS 54 333 THIRD-PARRY CLAIMS AGAINST PARTNERSHIP
PROPERTY 55 3.3.4 CLAIMS OF PARTNERSHIP CREDITORS TO PARTNER S
INDIVIDUAL PROPERTY 56 3.4 PARTNERSHIP GOVERNANCE AND ISSUES OF
AUTHORITY 59 NATIONAL BISCUIT CO. V. STROUD 59 3.5 TERMINATION
(DISSOLUTION AND DISASSOCIATION) 61 35.1 ACCOUNTING FOR PARTNERSHIP S
FINANCIAL STATUS AND PERFORMANCE 61 ADAMS V. JARVIS 63 DREIFUERST V.
DREIFUERST 67 PAGE V. PAGE 11 3.6 LIMITED LIABILITY MODIFICATIONS OF THE
PARTNERSHIP FORM 73 3.6.1 THE LIMITED PARTNERSHIP 74 3.6.2 LIMITED
LIABILITY PARTNERSHIPS AND COMPANIES 76 3.6.2.1 THE LIMITED LIABILITY
PARTNERSHIP 76 3.6.2.2 THE LIMITED LIABILITY COMPANY 77 CONTENTS XFFI
THE CORPORATE FORM DEBT, EQUITY, AND ECONOMIC VALUE 83 4.1 INTRODUCTION
TO THE CORPORATE FORM 83 4.2 CREATION OF A FICTIONAL LEGAL ENTITY 85
4.2.1 A NOTE ON THE HISTORY OF CORPORATE FORMATION 86 4.2.2 THE PROCESS
OF INCORPORATING TODAY 90 4.2.3 THE ARTICLES OF INCORPORATION, OR
CHARTER 91 4.2.4 THE CORPORATE BYLAWS 92 4.2.5 SHAREHOLDERS
AGREEMENTS 93 4.3 LIMITED LIABILITY 94 EASTERBROOK & FISCHEL, LIMITED
LIABILITY AND THE CORPORATION 95 4.4 TRANSFERABLE SHARES 97 4.5
CENTRALIZED MANAGEMENT 99 4.5.1 LEGAL CONSTRUCTION OF THE BOARD 100
4.5.1.1 THE HOLDER OF PRIMARY MANAGEMENT POWER 100 AUTOMATIC
SELF-CLEANSING FILTER SYNDICATE CO.. LTD. V. CUNNITIGHAME 101 4.5.1.2
STRUCTURE OF THE BOARD 104 4.5.13 FORMALITY IN BOARD OPERATION 105
4.5.1.4 A CRITIQUE OF BOARDS 106 4.5.2 CORPORATE OFFICERS: AGENTS OF THE
CORPORATION 107 JENNINGS V. PITTSBURGH MERCANTILE CO. **-, 111 5.1
CAPITAL STRUCTURE 111 5.1.1 LEGAL CHARACTER OF DEBT 112 5.1.2 LEGAL
CHARACTER OF EQUITY 113 5.2 BASIC CONCEPTS OF VALUATION 115 5.2.1 THE
TIME VALUE OF MONEY 115 5.2.2 RISK AND RETURN 118 5.2.3 DIVERSIFICATION
AND SYSTEMATIC RISK 121 5.3 VALUING ASSETS 123 5.31 THE DISCOUNT CASH
FLOW (DCF) APPROACH 123 5.3-2 THE RELEVANCE OF PRICES IN THE SECURITIES
MARKET 125 IN RE EMERGING COMMUNICATIONS INC.. SHAREHOLDER LITIGATION
126 THE PROTECTION OF CREDITORS NORMAL GOVERNANCE: THE VOTING SYSTEM
CONTENTS 131 6.1 MANDATORY DISCLOSURE 132 6.2 CAPITAL REGULATION 133
6.2.1 FINANCIAL STATEMENTS 133 6.2.2 DISTRIBUTION CONSTRAINTS 137 6.2.3
MINIMUM CAPITAL AND CAPITAL MAINTENANCE REQUIREMENTS 139 6.3
STANDARD-BASED DUTIES 140 6.31 DIRECTOR LIABILITY 141 6.3.2 CREDITOR
PROTECTION: FRAUDULENT TRANSFERS 143 6.3.3 SHAREHOLDER LIABILITY 145
6.3-3.1 EQUITABLE SUBORDINATION 145 COSTELLO V. FAZIO 145 6.3.3.2
PIERCING THE CORPORATE VEIL 151 SEA-LAND SERVICES, INC. V. THE PEPPER
SOURCE 151 KINNEY SHOE CORP. V. POLAN 156 6.4 VEIL PIERCING ON BEHALF OF
INVOLUNTARY CREDITORS 160 WALKOVSZKY V. CARL TON 160 CARTER-JONES LUMBER
CO. V. LTV STEEL 166 6.5 CAN LIMITED LIABILITY IN TORT BE JUSTIFIED? 170
HANSMANN & KRAAKMAN, TOWARD UNLIMITED SHAREHOLDER LIABILITY FOR
CORPORATE TORTS 170 177 7.1 THE ROLE AND LIMITS OF SHAREHOLDER VOTING
177 7.2 ELECTING AND REMOVING DIRECTORS 180 7.2.1 FIECTING DIRECTORS 180
7.2.2 REMOVING DIRECTORS 181 7.3 SHAREHOLDER MEETINGS AND ALTERNATIVES
184 7.4 PROW VOTING AND ITS COSTS 185 ROSEN/ELD V. FAIRCHILD ENGINE &
AIRPLANE CORP. 187 7.5 CUSS VOTING 189 7.6 SHAREHOLDER INFORMATION
RIGHTS 191 GENERAL TIME CORP. V. TALLEY INDUSTRIES. INC. 193 7.7
TECHNIQUES FOR SEPARATING CONTROL FROM CASH FLOW RIGHTS 194 ~ 7 .7. L
CIRCULAR CONTROL STRUCTURES 194 SPE/SER V. BAKER 295 * .1 .2 VOTE
BUYING 201 EASTERBROOK & FISCHEL, VOTING IN CORPORATE LAW 201 SCHREIBER
V. CARNEY 203 CONTENTS XV 7.7.3 CONTROLLING MINORITY STRUCTURES 209
BEBCHUK, KRAAKMAN & TRIANTIS, STOCK PYRAMIDS, CROSS-OWNERSHIP, AND DUAL
CLASS EQUITY 209 7.8 THE COLLECTIVE ACTION PROBLEM 213 EASTERBROOK &
FISCHEL, VOTING IN CORPORATE LAW 213 BERNARD & BLACK, NEXT STEPS IN
PROXY REFORM 214 POZEN, INSTITUTIONAL INVESTORS: THE RELUCTANT ACTIVISTS
216 KAHAN & ROCK, HEDGE FUNDS IN CORPORATE GOVERNANCE AND CORPORATE
CONTROL 216 7.9 THE FEDERAL PROXY RULES 217 7.9-1 RULES I4A-1 THROUGH
L4A-7: DISCLOSURE AND SHAREHOLDER COMMUNICATION 218 7.9-2 RULE L4A-8:
SHAREHOLDER PROPOSALS 222 7.9.3 RULE L4A-9: THE ANTIFRAUD RULE 230
VIRGINIA BANKSHARES, INC. V. SANDBERG 232 7.10 STATE DISCLOSURE LAW:
FIDUCIARY DUTY OF CANDOR 238 NORMAL GOVERNANCE: THE DUTY OF CARE 241 8.1
INTRODUCTION TO THE DUTY OF CARK 241 8.2 THE DUN OF CARE AND THE NEED
TO MITIGATE DIRECTOR RISK AVERSION 242 GAGLIARDI V. TRIFOODS
INTERNATIONAL, INC. 243 8.3 STATUTORY TECHNIQUES FOR LIMITING DIRECTOR
AND OFFICER RISK EXPOSURE 245 8.3-1 INDEMNIFICATION 246 WALTUCH V.
CONTICOMMODITY SERVICES. INC. 246 8.32 DIRECTORS AND OFFICERS INSURANCE
251 8.4 JUDICIAL PROTECTION: THE BUSINESS JUDGMENT RULE 252 KAMIN V.
AMERICAN EXPRESS CO. 252 8.4.1 UNDERSTANDING THE BUSINESS JUDGMENT RULE
255 8.4.2 THE DUTY OF CARE IN TAKEOVER CASES: A NOTE ON SMITH V. VAN
GORKOM 257 8.4.3 ADDITIONAL STATUTORY PROTECTION: AUTHORIZATION FOR
CHARTER PROVISIONS WAIVING LIABILITY FOR DUE CARE VIOLATIONS 258 8.5
DELAWARE S UNIQUE APPROACH TO ADJUDICATING DUE CARE CLAIMS AGAINST
CORPORATE DIRECTORS: FROM TF.CIIMCOI.OR TO EMERALD PARTNERS 260 8.6 THE
BOARD S DUTY TO MONITOR: LOSSES CAUSED BY BOARD PASSIVITY 263 FRANCIS
V. I IIITEDJERSEY BANK 264 GRAHAM V. ALLIS-CHALMERS MANUFACTURING CO.
269 BEAM V. MARTHA STEWART 273 IN THE MATTER OF MICHAEL MARCBESE 216 IN
RE CAREMARK INTERNATIONAL INC. DERIVATIVE LITIGATION 282 CONTENTS 8.7
KNOWING VIOLATIONS OF LAW 289 MILLER V. A.T.&T. 289 CONFLICT
TRANSACTIONS: THE DUTY OF LOYALTY 293 9.1 DUTY TO WHOM? 294 9.1.1 THE
SHAREHOLDER PRIMACY NORM 294 A.P. SMITH MANUFACTURING CO. V. BARLOW 296
9.1.2 CONSTITUENCY STATUTES 298 9.2 SELF-DEALING TRANSACTIONS 300 9.2.1
EARLY REGULATION OF FIDUCIARY SELF-DEALING 300 9.2.2 THE DISCLOSURE
REQUIREMENT 302 STATE EX REL. HAYES OYSTER CO. V. KEYPOINT OYSTER CO.
302 9.2.3 CONTROLLING SHAREHOLDERS AND THE FAIRNESS STANDARD 306
SINCLAIR OIL CORP. V. LEVIEN 301 93 THK EFFECT OF APPROVAL BY A
DISINTERESTED PARTY 311 9.3.1 THE SAFE HARBOR STATUTES 312 COOKIES FOOD
PRODUCTS V. LAKES WAREHOUSE 312 9.3.2 APPROVAL BY DISINTERESTED MEMBERS
OF THE BOARD 317 EISENBERG, SELF-INTERESTED TRANSACTIONS IN CORPORATE
LAW 318 COOKE V. OOLIE 319 9.33 APPROVAL BY A SPECIAL COMMITTEE
OFLNDEPENDENT DIRECTORS 322 93.4 SHAREHOLDER RATIFICATION OF CONFLICT
TRANSACTIONS 324 LEWIS V. VOGELSTEIN 324 IN RE WHEELABRATOR
TECHNOLOGIES, INC. 325 9.4 DIRECTOR AND MANAGEMENT COMPENSATION 327
9.4.1 PERCEIVED EXCESSIVE COMPENSATION 328 RAMIREZ, REEBOK CHIEF FACING
93% PAY CUT 329 GRASSO QUITS NYSE AMID PAY FUROR 330 AT ELITE PREP
SCHOOL, PARENTS DO THE MATH: RECTOR GETS §524,000 331 9-4.2 OPTION
GRANTS AND THE LAW OF DIRECTOR AND OFFICER COMPENSATION 332 LEWIS V.
VOGELSTEIN 332 9.4.3 CORPORATE GOVERNANCE AND SEC REGULATORY RESPONSES
335 94.4 THE DISNEY DECISION 337 IN RE THE WALT DISNEY COMPANY
DERIVATIVE LITIGATION 339 IN RE THE WALT DISNEY COMPANY DERIVATIVE
LITIGATION 342 9.5 CORPORATE OPPORTUNITY DOCTRINE 351 9.5.1 DETERMINING
WHICH OPPORTUNITIES BELONG TO THE CORPORATION 351 CONTENTS XVII 9.5.2
WHEN MAY A FIDUCIARY TAKE A CORPORATE OPPORTUNITY? 352 IN RE EBAY, INC.
SHAREHOLDERS LITIGATION 353 9.6 THE DUTY OF LOYALTY IN CLOSE
CORPORATIONS 356 DONAHUE V. RODD ELECTROTYPE CO. 357 EASTERBROOK &
FISCHEL, CLOSE CORPORATIONS AND AGENCY COSTS 363 SMITH V. ATLANTIC
PROPERTIES, INC. 364 10 SHAREHOLDER LAWSUITS 11 TRANSACTIONS IN CONTROL
369 10.1 DISTINGUISHING BETWEEN DIRECT AND DERIVATIVE CLAIMS 369 10.2
SOLVING A COLLECTIVE ACTION PROBLEM: ATTORNEYS FEES AND THE INCENTIVE
TO SUE 373 FLETCHER V. A.J. INDUSTRIES. INC. 314 ENRON SHAREHOLDER
SUITS? NOT SO FAST 380 10.3 STANDING REQUIREMENTS 380 10.4 BALANCING THE
RIGHTS OF BOARDS TO MANAGE THE CORPORATION AND SHAREHOLDERS RIGHTS TO
OBTAIN JUDICIAL REVIEW 382 10.4.1 THE DEMAND REQUIREMENT OF RULE 23 383
LEVINE V. SMITH 383 RALES V. BLASBAND 388 10.4.2 SPECIAL LITIGATION
COMMITTEES 395 ZAPATA CORP. V. MALDONADO 396 IN RE ORACLE CORP.
DERIVATIVE LITIGATION 402 JOY V. NORTH 413 10.5 SETTLEMENT AND
INDEMNIFICATION 417 10.5.1 SETTLEMENT BY CLASS REPRESENTATIVES 417
10.5.2 SETTLEMENT BY SPECIAL COMMITTEE 419 CARLTON INVESTMENTS V. TLC
BEATRICE INTERNATIONAL HOLDINGS. INC. 419 10.6 WHEN ARE DERIVATIVE SUITS
IN SHAREHOLDERS INTERESTS? 420 423 11.1 SALES OF CONTROL BLOCKS: THE
SELLER S DUTIES 425 11.1.1 THE REGULATION OF CONTROL PREMIA 426 ZETLIN
V. HANSON HOLDINGS. INC. 426 PERLMAN V. FE/DINANN 427 XVIIL CONTENTS
11.1.2 A DEFENSE OF THE MARKET RULE IN SALES OF CONTROL 433 EASTERBROOK
& FISCHEL, CORPORATE CONTROL TRANSACTIONS 433 11.2 SALE OF CORPORATE
OFFICE 438 11.3 LOOTING 439 HARRIS V. CARTER 439 11.4 TENDER OFFERS: THE
BUYER S DUTIES 443 BRASCCM LTD. V. EDPER EQUITIES LTD. 445 11.5 THE
HART-SCOTT-RODINO ACT WAITING PERIOD 449 12 FUNDAMENTAL TRANSACTIONS:
MERGERS AND ACQUISITIONS 453 12.1 INTRODUCTION 453 12.2 ECONOMIC MOTIVES
FOR MERGERS 454 12.2.1 INTEGRATION AS A SOURCE OF VALUE 454 12.2.2 OTHER
SOURCES OF VALUE IN ACQUISITIONS: TAX, AGENCY COSTS, AND DIVERSIFICATION
455 12.2.3 SUSPECT MOTIVES FOR MERGERS 456 12.2.4 DO MERGERS CREATE
VALUE? 457 12.3 THE EVOLUTION OF THE U.S. CORPORATE LAW OF MERGERS 458
12.3.1 WHEN MERGERS WERE RARE 458 12.3.2 THE MODERN ERA 459 12.4 THE
ALLOCATION OF POWER IN FUNDAMENTAL TRANSACTIONS 460 12.5 OVERVIEW OF
TRANSACTIONAL FORM 462 12.51 ASSET ACQUISITION 463 KATZ V. BREGMAN 463
12.5.2 STOCK ACQUISITION 468 12.5.3 MERGERS 469 12.5.4 TRIANGULAR
MERGERS 471 12.6 STRUCTURING THE M&A TRANSACTION 472 12.6.1 TIMING 472
12.6.2 REGULATORY APPROVALS, CONSENTS, AND TITLE TRANSFERS 473 12.6.3
PLANNING AROUND VOTING AND APPRAISAL RIGHTS 473 12.6.4 DUE DILIGENCE,
REPRESENTATIONS AND WARRANTIES, COVENANTS, AND INDEMNIFICATION 474
12.6.5 DEAL PROTECTION AND TERMINATION FEES 475 12.6.6 ACCOUNTING
TREATMENT 475 12.6.7 A CASE STUDY: EXCERPT FROM TIMBERJACK AGREEMENT AND
PLAN OF MERGER 476 12.7 TAXATION OF CORPORATE COMBINATIONS 481 12.7.1
BASIC CONCEPTS 481 12.7.2 TAX-FREE CORPORATE REORGANIZATIONS 482 12.8
THE APPRAISAL REMEDY 484 12.8.1 HISTORY AND THEORY 484 12.8.2 THE
APPRAISAL ALTERNATIVE IN INTERESTED MERGERS 486 12.8.3 THE MARKET-OUT
RULE 488 CONTENTS XIX 12.8.4 THE NATURE OF FAIR VALUE 488 IN RE VISION
HARDWARE GROUP, INC. 489 12.9 THE DE FACTO MERGER DOCTRINE 492 HARITON
V. ARCO ELECTRONICS, INC. 493 12.10 THE DUTY OF LOYALTY IN CONTROLLED
MERGERS 496 12.10.1 CASH MERGERS OR FREEZE-OUTS 497 WEINBERGER V. HOP,
INC. 499 12.10.2 WHAT CONSTITUTES CONTROL AND EXERCISE OF CONTROL 510
KAHN V. LYNCH COMMUNICATION SYSTEMS. INC. 510 12.10.3 SPECIAL COMMITTEES
OF INDEPENDENT DIRECTORS IN CONTROLLED MERGERS 515 12.10.4 CONTROLLING
SHAREHOLDER FIDUCIARY DUTY ON THE FIRST STEP OF A TWO-STEP TENDER OFFER
517 IN RE PURE RESOURCES, INC.. SHAREHOLDERS LITIGATION 51 7 13 PUBLIC
CONTESTS FOR CORPORATE CONTROL 525 13.1 INTRODUCTION 525 13.2 DEFENDING
AGAINST HOSTILE TENDER OFFERS 529 UNOCAL CORP. V. MESA PETROLEUM CO. 529
13-3 PRIVATE LAW INNOVATION: THE POISON PILL 536 MORAN V. HOUSEHOLD
INTERNATIONAL, INC. 539 13-4 CHOOSING A MERGER OR BUYOUT PARTNER:
REVLON, ITS SEQUELS, AND ITS PREQUELS 546 SMITH V. VAN GORKOM 546
REVLON, INC. V. MACANDREWS AND FORBES HOLDINGS. INC. 554 13-5 PULLING
TOGETHER USOCAL AND REVLOS 559 PARAMOUNT COMMUNICATIONS. INC. V. TIME.
INC. 559 PARAMOUNT COMMUNICATIONS. INC. V. QVC NETWORK, INC. 567 13-6
PROTECTING THE DEAL 581 13.6.1 NO SHOPS/WO TALKS AND FIDUCIARY OUTS
584 13.6.2 SHAREHOLDER LOCKUPS 585 OMNICARE. INC., V. NCS HEALTHCARE,
INC. 586 13.7 STATE ANTITAKEOVER STATUTES 603 13.7.1 FIRST- AND
SECOND-GENERATION ANTITAKEOVER STATUTES (1968-1987) 603 CTS CORP. V.
DYNAMICS CORP. OF AMERICA 604 13.7.2 THIRD-GENERATION ANTITAKEOVER
STATUTES (1987-2000) 608 13-8 PROXY CONTESTS FOR CORPORATE CONTROL 612
SCHNELL V. CHRIS-CRAFT INDUSTRIES. INC 615 BLASIUS INDUSTRIES. INC. V.
ATLAS CORP. 615 13.9 THE TAKEOVER ARMS RACK CONTINUES 621 139.1 DEAD
HAND PILLS 621 XX CONTENTS 13.92 MANDATORY PILL REDEMPTION BYLAWS 623
UNISUPER V. NEWS CORP 625 14 TRADING IN THE CORPORATION S SECURITIES 629
14.1 COMMON LAW OF DIRECTORS DUTIES WHEN TRADING IN THE CORPORATION S
STOCK 629 GOODWIN V. AGASSIZ 630 14.2 THE CORPORATE LAW OF FIDUCIARY
DISCLOSURE TODAY 634 14.2.1 CORPORATE RECOVERY OF PROFIT FROM INSIDER
TRADING 635 FREEMAN V. DECIO 636 14.2.2 BOARD DISCLOSURE OBLIGATIONS
UNDER STATE LAW 639 14.3 EXCHANGE ACT §16(B) AND RULE 16 640 14.4
EXCHANGE ACT §10(B) AND RULE 10B-5 643 14.4.1 EVOLUTION OF PRIVATE RIGHT
OF ACTION UNDER §10 644 14.4.2 ELEMENTS OF A 10B-5 CLAIM 645 14.4.2.1
ELEMENTS OF A 10B-5 CLAIM: FALSE OR MISLEADING STATEMENT OR OMISSION 646
SEC V. TEXAS GULF SULPHUR CO. 647 SANTA FE INDUSTRIES INC. V. GREEN 653
14.4.2.2 ELEMENTS OF 10B-5 LIABILITY: THE EQUAL ACCESS THEORY 660
14.4.2.3 ELEMENTS OF 10B-5 LIABILITY: THE FIDUCIARY DUTY THEORY 661
CHIARELLA V. UNITED STATES 663 DIRKS V. SEC 661 UNITED STATES V. CHEST
MAN 676 UNITED STATES V. O HAGAN 681 14.4.2.4 ELEMENTS OF 10B-5
LIABILITY: MATERIALITY 686 BASIC INC. V. LEVINSON 686 14.4.2.5 ELEMENTS
OF 10B-5 LIABILITY: SCIENTER 690 14.4.2.6 ELEMENTS OF 10B-5 LIABILITY:
STANDING, IN CONNECTION WITH THE PURCHASE OR SALE OF SECURITIES 692
14.4.2.7 ELEMENTS OF 10B-5 LIABILITY: RELIANCE 693 BASIC INC. V.
LEVINSON 693 14.4.2.8 ELEMENTS OF 10B-5 RECOVERY: CAUSATION 699 14.4.3
REMEDIES FOR 10B-5 VIOLATIONS 700 ELKIND V. LIGGETT & MYERS. INC. 700
14.4.4 THE ACADEMIC DEBATE 704 14.4.4.1 INSIDER TRADING AND INFORMED
PRICES 705 14.4.4.2 INSIDER TRADING AS A COMPENSATION DEVICE 707 TABLE
OF CASES 711 INDEX 717
|
| adam_txt |
CONTENTS PREFACE ACKNOWLEDGMENTS XXI XXV INTRODICTION TO THE LAW OF
ENTERPRISE ORGANIZATION 1.1 KI ; HCII-:\ :Y AND THE SOCIAL SIGNII K.ANCE
OF ENTERPRISE ORGANIZATION 111 WEALTH CREATION AND THE CORPORATE FORM OF
ORGANIZATION 1.1.2 V C HAT DO VIE MEAN BY EFFICIENCY? 1.1.2.1 PARETO
EFFICIENCY 1.1.2.2 KALCLOR-HICKS EFFICIENCY 1.2 L.W FROM INSIDE AND ON:
SHARED MEANINGS AND SKEPTICISM 1.2.1 THE OUTSIDE AND THE INSIDE 1.2.2
FAIRNESS AND EFFICIENCY 1.3 DEVELOPMENT OF THE MODERN THEORY OF THE FIRM
1.3.1 RONALD COASE'S 193 T INSIGHT 1.3 2 TRANSACTIONS COST THEORY 1.3.3
AGENCY COST THEORY 3 3 -I 5 5 6 8 9 9 10 ACTING THROIGH OTHERS: THE LAW
OE AGKNCY 15 2. 1 INTKODI CTION TO AGENCY 2.2 AGI-NCV FORM.VI'ION,
A(.I:NCI TERMINATION, AND PRINCIPAL'S 2.2. 1 FORMATION 2.2.2 TERMINATION
2.2.3 PARTIES' CONCEPTION DOES NOT CONTROL JENSOII FARMS CO. V. CURG/LL.
INC. 16 10 1" 18 IS XI XII CONTENTS 2.2.4 LIABILITY IN CONTRACT 22
2.2.4.1 ACTUAL AND APPARENT AUTHORITY 22 WHITE V. THOMAS 22 2.2.4.2
INHERENT AUTHORITY 25 GALLANT INS. CO. V. ISAAC 26 2.2.5 LIABILITY IN
TORT 30 HUMBLE OIL & REFINING CO. V. MARTIN 30 HOOVER V. SUN OIL CO. 32
2.3 THE GOVERNANCE OF AGENCY (THE AGENT'S DUTIES) 34 2.3.1 THE NATURE OF
THE AGENT'S FIDUCIARY RELATIONSHIP 34 2.32 THE AGENT'S DUTY OF LOYALTY
TO THE PRINCIPAL 35 TARNOWSKI V. RESOP 36 2.3.3 THE TRUSTEE'S DUTY TO
TRUST BENEFICIARIES 38 /// RE GLEESON 38 THE PROBLEM OF JOINT OWNERSHIP:
THE LAW OF PARTNERSHIP 41 3.1 INTRODUCTION TO PARTNERSHIP 41 3 1.1 WHY
HAVE JOINT OWNERSHIP? 42 KLEIN & COFFEE, THE NEED TO ASSEMBLE AT-RISK
CAPITAL 43 312 THE AGENCY CONFLICT AMONG CO-OWNERS 45 MEINHARD V. SALMON
45 32 PARTNERSHIP FORMATION 50 VOHLAND V. SWEET 50 33 RELATIONS WITH
THIRD PARTIES 53 3.3.1 WHO IS A PARTNER? 53 332 THIRD-PARTY CLAIMS
AGAINST DEPARTING PARTNERS 54 333 THIRD-PARRY CLAIMS AGAINST PARTNERSHIP
PROPERTY 55 3.3.4 CLAIMS OF PARTNERSHIP CREDITORS TO PARTNER'S
INDIVIDUAL PROPERTY 56 3.4 PARTNERSHIP GOVERNANCE AND ISSUES OF
AUTHORITY 59 NATIONAL BISCUIT CO. V. STROUD 59 3.5 TERMINATION
(DISSOLUTION AND DISASSOCIATION) 61 35.1 ACCOUNTING FOR PARTNERSHIP'S
FINANCIAL STATUS AND PERFORMANCE 61 ADAMS V. JARVIS 63 DREIFUERST V.
DREIFUERST 67 PAGE V. PAGE 11 3.6 LIMITED LIABILITY MODIFICATIONS OF THE
PARTNERSHIP FORM 73 3.6.1 THE LIMITED PARTNERSHIP 74 3.6.2 LIMITED
LIABILITY PARTNERSHIPS AND COMPANIES 76 3.6.2.1 THE LIMITED LIABILITY
PARTNERSHIP 76 3.6.2.2 THE LIMITED LIABILITY COMPANY 77 CONTENTS XFFI
THE CORPORATE FORM DEBT, EQUITY, AND ECONOMIC VALUE 83 4.1 INTRODUCTION
TO THE CORPORATE FORM 83 4.2 CREATION OF A FICTIONAL LEGAL ENTITY 85
4.2.1 A NOTE ON THE HISTORY OF CORPORATE FORMATION 86 4.2.2 THE PROCESS
OF INCORPORATING TODAY 90 4.2.3 THE ARTICLES OF INCORPORATION, OR
"CHARTER" 91 4.2.4 THE CORPORATE BYLAWS 92 4.2.5 SHAREHOLDERS'
AGREEMENTS 93 4.3 LIMITED LIABILITY 94 EASTERBROOK & FISCHEL, LIMITED
LIABILITY AND THE CORPORATION 95 4.4 TRANSFERABLE SHARES 97 4.5
CENTRALIZED MANAGEMENT 99 4.5.1 LEGAL CONSTRUCTION OF THE BOARD 100
4.5.1.1 THE HOLDER OF PRIMARY MANAGEMENT POWER 100 AUTOMATIC
SELF-CLEANSING FILTER SYNDICATE CO. LTD. V. CUNNITIGHAME 101 4.5.1.2
STRUCTURE OF THE BOARD 104 4.5.13 FORMALITY IN BOARD OPERATION 105
4.5.1.4 A CRITIQUE OF BOARDS 106 4.5.2 CORPORATE OFFICERS: AGENTS OF THE
CORPORATION 107 JENNINGS V. PITTSBURGH MERCANTILE CO. **-, 111 5.1
CAPITAL STRUCTURE 111 5.1.1 LEGAL CHARACTER OF DEBT 112 5.1.2 LEGAL
CHARACTER OF EQUITY 113 5.2 BASIC CONCEPTS OF VALUATION 115 5.2.1 THE
TIME VALUE OF MONEY 115 5.2.2 RISK AND RETURN 118 5.2.3 DIVERSIFICATION
AND SYSTEMATIC RISK 121 5.3 VALUING ASSETS 123 5.31 THE DISCOUNT CASH
FLOW (DCF) APPROACH 123 5.3-2 THE RELEVANCE OF PRICES IN THE SECURITIES
MARKET 125 IN RE EMERGING COMMUNICATIONS INC. SHAREHOLDER LITIGATION
126 THE PROTECTION OF CREDITORS NORMAL GOVERNANCE: THE VOTING SYSTEM
CONTENTS 131 6.1 MANDATORY DISCLOSURE 132 6.2 CAPITAL REGULATION 133
6.2.1 FINANCIAL STATEMENTS 133 6.2.2 DISTRIBUTION CONSTRAINTS 137 6.2.3
MINIMUM CAPITAL AND CAPITAL MAINTENANCE REQUIREMENTS 139 6.3
STANDARD-BASED DUTIES 140 6.31 DIRECTOR LIABILITY 141 6.3.2 CREDITOR
PROTECTION: FRAUDULENT TRANSFERS 143 6.3.3 SHAREHOLDER LIABILITY 145
6.3-3.1 EQUITABLE SUBORDINATION 145 COSTELLO V. FAZIO 145 6.3.3.2
PIERCING THE CORPORATE VEIL 151 SEA-LAND SERVICES, INC. V. THE PEPPER
SOURCE 151 KINNEY SHOE CORP. V. POLAN 156 6.4 VEIL PIERCING ON BEHALF OF
INVOLUNTARY CREDITORS 160 WALKOVSZKY V. CARL TON 160 CARTER-JONES LUMBER
CO. V. LTV STEEL 166 6.5 CAN LIMITED LIABILITY IN TORT BE JUSTIFIED? 170
HANSMANN & KRAAKMAN, TOWARD UNLIMITED SHAREHOLDER LIABILITY FOR
CORPORATE TORTS 170 177 7.1 THE ROLE AND LIMITS OF SHAREHOLDER VOTING
177 7.2 ELECTING AND REMOVING DIRECTORS 180 7.2.1 FIECTING DIRECTORS 180
7.2.2 REMOVING DIRECTORS 181 7.3 SHAREHOLDER MEETINGS AND ALTERNATIVES
184 7.4 PROW VOTING AND ITS COSTS 185 ROSEN/ELD V. FAIRCHILD ENGINE &
AIRPLANE CORP. 187 7.5 CUSS VOTING 189 7.6 SHAREHOLDER INFORMATION
RIGHTS 191 GENERAL TIME CORP. V. TALLEY INDUSTRIES. INC. 193 7.7
TECHNIQUES FOR SEPARATING CONTROL FROM CASH FLOW RIGHTS 194 ~ 7 .7. L
CIRCULAR CONTROL STRUCTURES 194 SPE/SER V. BAKER 295 '*'.1'.2 VOTE
BUYING 201 EASTERBROOK & FISCHEL, VOTING IN CORPORATE LAW 201 SCHREIBER
V. CARNEY 203 CONTENTS XV 7.7.3 CONTROLLING MINORITY STRUCTURES 209
BEBCHUK, KRAAKMAN & TRIANTIS, STOCK PYRAMIDS, CROSS-OWNERSHIP, AND DUAL
CLASS EQUITY 209 7.8 THE COLLECTIVE ACTION PROBLEM 213 EASTERBROOK &
FISCHEL, VOTING IN CORPORATE LAW 213 BERNARD & BLACK, NEXT STEPS IN
PROXY REFORM 214 POZEN, INSTITUTIONAL INVESTORS: THE RELUCTANT ACTIVISTS
216 KAHAN & ROCK, HEDGE FUNDS IN CORPORATE GOVERNANCE AND CORPORATE
CONTROL 216 7.9 THE FEDERAL PROXY RULES 217 7.9-1 RULES I4A-1 THROUGH
L4A-7: DISCLOSURE AND SHAREHOLDER COMMUNICATION 218 7.9-2 RULE L4A-8:
SHAREHOLDER PROPOSALS 222 7.9.3 RULE L4A-9: THE ANTIFRAUD RULE 230
VIRGINIA BANKSHARES, INC. V. SANDBERG 232 7.10 STATE DISCLOSURE LAW:
FIDUCIARY DUTY OF CANDOR 238 NORMAL GOVERNANCE: THE DUTY OF CARE 241 8.1
INTRODUCTION TO THE DUTY OF CARK 241 8.2 THE DUN' OF CARE AND THE NEED
TO MITIGATE DIRECTOR RISK AVERSION 242 GAGLIARDI V. TRIFOODS
INTERNATIONAL, INC. 243 8.3 STATUTORY TECHNIQUES FOR LIMITING DIRECTOR
AND OFFICER RISK EXPOSURE 245 8.3-1 INDEMNIFICATION 246 WALTUCH V.
CONTICOMMODITY SERVICES. INC. 246 8.32 DIRECTORS AND OFFICERS INSURANCE
251 8.4 JUDICIAL PROTECTION: THE BUSINESS JUDGMENT RULE 252 KAMIN V.
AMERICAN EXPRESS CO. 252 8.4.1 UNDERSTANDING THE BUSINESS JUDGMENT RULE
255 8.4.2 THE DUTY OF CARE IN TAKEOVER CASES: A NOTE ON SMITH V. VAN
GORKOM 257 8.4.3 ADDITIONAL STATUTORY PROTECTION: AUTHORIZATION FOR
CHARTER PROVISIONS WAIVING LIABILITY FOR DUE CARE VIOLATIONS 258 8.5
DELAWARE'S UNIQUE APPROACH TO ADJUDICATING DUE CARE CLAIMS AGAINST
CORPORATE DIRECTORS: FROM TF.CIIMCOI.OR TO EMERALD PARTNERS 260 8.6 THE
BOARD'S DUTY TO MONITOR: LOSSES "CAUSED" BY BOARD PASSIVITY 263 FRANCIS
V. I IIITEDJERSEY BANK 264 GRAHAM V. ALLIS-CHALMERS MANUFACTURING CO.
269 BEAM V. MARTHA STEWART 273 IN THE MATTER OF MICHAEL MARCBESE 216 IN
RE CAREMARK INTERNATIONAL INC. DERIVATIVE LITIGATION 282 CONTENTS 8.7
"KNOWING" VIOLATIONS OF LAW 289 MILLER V. A.T.&T. 289 CONFLICT
TRANSACTIONS: THE DUTY OF LOYALTY 293 9.1 DUTY TO WHOM? 294 9.1.1 THE
SHAREHOLDER PRIMACY NORM 294 A.P. SMITH MANUFACTURING CO. V. BARLOW 296
9.1.2 CONSTITUENCY STATUTES 298 9.2 SELF-DEALING TRANSACTIONS 300 9.2.1
EARLY REGULATION OF FIDUCIARY SELF-DEALING 300 9.2.2 THE DISCLOSURE
REQUIREMENT 302 STATE EX REL. HAYES OYSTER CO. V. KEYPOINT OYSTER CO.
302 9.2.3 CONTROLLING SHAREHOLDERS AND THE FAIRNESS STANDARD 306
SINCLAIR OIL CORP. V. LEVIEN 301 93 THK EFFECT OF APPROVAL BY A
DISINTERESTED PARTY 311 9.3.1 THE SAFE HARBOR STATUTES 312 COOKIES FOOD
PRODUCTS V. LAKES WAREHOUSE 312 9.3.2 APPROVAL BY DISINTERESTED MEMBERS
OF THE BOARD 317 EISENBERG, SELF-INTERESTED TRANSACTIONS IN CORPORATE
LAW 318 COOKE V. OOLIE 319 9.33 APPROVAL BY A SPECIAL COMMITTEE
OFLNDEPENDENT DIRECTORS 322 93.4 SHAREHOLDER RATIFICATION OF CONFLICT
TRANSACTIONS 324 LEWIS V. VOGELSTEIN 324 IN RE WHEELABRATOR
TECHNOLOGIES, INC. 325 9.4 DIRECTOR AND MANAGEMENT COMPENSATION 327
9.4.1 PERCEIVED EXCESSIVE COMPENSATION 328 RAMIREZ, REEBOK CHIEF FACING
93% PAY CUT 329 GRASSO QUITS NYSE AMID PAY FUROR 330 AT ELITE PREP
SCHOOL, PARENTS DO THE MATH: RECTOR GETS §524,000 331 9-4.2 OPTION
GRANTS AND THE LAW OF DIRECTOR AND OFFICER COMPENSATION 332 LEWIS V.
VOGELSTEIN 332 9.4.3 CORPORATE GOVERNANCE AND SEC REGULATORY RESPONSES
335 94.4 THE DISNEY DECISION 337 IN RE THE WALT DISNEY COMPANY
DERIVATIVE LITIGATION 339 IN RE THE WALT DISNEY COMPANY DERIVATIVE
LITIGATION 342 9.5 CORPORATE OPPORTUNITY DOCTRINE 351 9.5.1 DETERMINING
WHICH OPPORTUNITIES "BELONG" TO THE CORPORATION 351 CONTENTS XVII 9.5.2
WHEN MAY A FIDUCIARY TAKE A CORPORATE OPPORTUNITY? 352 IN RE EBAY, INC.
SHAREHOLDERS LITIGATION 353 9.6 THE DUTY OF LOYALTY IN CLOSE
CORPORATIONS 356 DONAHUE V. RODD ELECTROTYPE CO. 357 EASTERBROOK &
FISCHEL, CLOSE CORPORATIONS AND AGENCY COSTS 363 SMITH V. ATLANTIC
PROPERTIES, INC. 364 10 SHAREHOLDER LAWSUITS 11 TRANSACTIONS IN CONTROL
369 10.1 DISTINGUISHING BETWEEN DIRECT AND DERIVATIVE CLAIMS 369 10.2
SOLVING A COLLECTIVE ACTION PROBLEM: ATTORNEYS' FEES AND THE INCENTIVE
TO SUE 373 FLETCHER V. A.J. INDUSTRIES. INC. 314 ENRON SHAREHOLDER
SUITS? NOT SO FAST 380 10.3 STANDING REQUIREMENTS 380 10.4 BALANCING THE
RIGHTS OF BOARDS TO MANAGE THE CORPORATION AND SHAREHOLDERS' RIGHTS TO
OBTAIN JUDICIAL REVIEW 382 10.4.1 THE DEMAND REQUIREMENT OF RULE 23 383
LEVINE V. SMITH 383 RALES V. BLASBAND 388 10.4.2 SPECIAL LITIGATION
COMMITTEES 395 ZAPATA CORP. V. MALDONADO 396 IN RE ORACLE CORP.
DERIVATIVE LITIGATION 402 JOY V. NORTH 413 10.5 SETTLEMENT AND
INDEMNIFICATION 417 10.5.1 SETTLEMENT BY CLASS REPRESENTATIVES 417
10.5.2 SETTLEMENT BY SPECIAL COMMITTEE 419 CARLTON INVESTMENTS V. TLC
BEATRICE INTERNATIONAL HOLDINGS. INC. 419 10.6 WHEN ARE DERIVATIVE SUITS
IN SHAREHOLDERS' INTERESTS? 420 423 11.1 SALES OF CONTROL BLOCKS: THE
SELLER'S DUTIES 425 11.1.1 THE REGULATION OF CONTROL PREMIA 426 ZETLIN
V. HANSON HOLDINGS. INC. 426 PERLMAN V. FE/DINANN 427 XVIIL CONTENTS
11.1.2 A DEFENSE OF THE MARKET RULE IN SALES OF CONTROL 433 EASTERBROOK
& FISCHEL, CORPORATE CONTROL TRANSACTIONS 433 11.2 SALE OF CORPORATE
OFFICE 438 11.3 LOOTING 439 HARRIS V. CARTER 439 11.4 TENDER OFFERS: THE
BUYER'S DUTIES 443 BRASCCM LTD. V. EDPER EQUITIES LTD. 445 11.5 THE
HART-SCOTT-RODINO ACT WAITING PERIOD 449 12 FUNDAMENTAL TRANSACTIONS:
MERGERS AND ACQUISITIONS 453 12.1 INTRODUCTION 453 12.2 ECONOMIC MOTIVES
FOR MERGERS 454 12.2.1 INTEGRATION AS A SOURCE OF VALUE 454 12.2.2 OTHER
SOURCES OF VALUE IN ACQUISITIONS: TAX, AGENCY COSTS, AND DIVERSIFICATION
455 12.2.3 SUSPECT MOTIVES FOR MERGERS 456 12.2.4 DO MERGERS CREATE
VALUE? 457 12.3 THE EVOLUTION OF THE U.S. CORPORATE LAW OF MERGERS 458
12.3.1 WHEN MERGERS WERE RARE 458 12.3.2 THE MODERN ERA 459 12.4 THE
ALLOCATION OF POWER IN FUNDAMENTAL TRANSACTIONS 460 12.5 OVERVIEW OF
TRANSACTIONAL FORM 462 12.51 ASSET ACQUISITION 463 KATZ V. BREGMAN 463
12.5.2 STOCK ACQUISITION 468 12.5.3 MERGERS 469 12.5.4 TRIANGULAR
MERGERS 471 12.6 STRUCTURING THE M&A TRANSACTION 472 12.6.1 TIMING 472
12.6.2 REGULATORY APPROVALS, CONSENTS, AND TITLE TRANSFERS 473 12.6.3
PLANNING AROUND VOTING AND APPRAISAL RIGHTS 473 12.6.4 DUE DILIGENCE,
REPRESENTATIONS AND WARRANTIES, COVENANTS, AND INDEMNIFICATION 474
12.6.5 DEAL PROTECTION AND TERMINATION FEES 475 12.6.6 ACCOUNTING
TREATMENT 475 12.6.7 A CASE STUDY: EXCERPT FROM TIMBERJACK AGREEMENT AND
PLAN OF MERGER 476 12.7 TAXATION OF CORPORATE COMBINATIONS 481 12.7.1
BASIC CONCEPTS 481 12.7.2 TAX-FREE CORPORATE REORGANIZATIONS 482 12.8
THE APPRAISAL REMEDY 484 12.8.1 HISTORY AND THEORY 484 12.8.2 THE
APPRAISAL ALTERNATIVE IN INTERESTED MERGERS 486 12.8.3 THE MARKET-OUT
RULE 488 CONTENTS XIX 12.8.4 THE NATURE OF "FAIR VALUE" 488 IN RE VISION
HARDWARE GROUP, INC. 489 12.9 THE DE FACTO MERGER DOCTRINE 492 HARITON
V. ARCO ELECTRONICS, INC. 493 12.10 THE DUTY OF LOYALTY IN CONTROLLED
MERGERS 496 12.10.1 CASH MERGERS OR FREEZE-OUTS 497 WEINBERGER V. HOP,
INC. 499 12.10.2 WHAT CONSTITUTES CONTROL AND EXERCISE OF CONTROL 510
KAHN V. LYNCH COMMUNICATION SYSTEMS. INC. 510 12.10.3 SPECIAL COMMITTEES
OF INDEPENDENT DIRECTORS IN CONTROLLED MERGERS 515 12.10.4 CONTROLLING
SHAREHOLDER FIDUCIARY DUTY ON THE FIRST STEP OF A TWO-STEP TENDER OFFER
517 IN RE PURE RESOURCES, INC. SHAREHOLDERS LITIGATION 51 7 13 PUBLIC
CONTESTS FOR CORPORATE CONTROL 525 13.1 INTRODUCTION 525 13.2 DEFENDING
AGAINST HOSTILE TENDER OFFERS 529 UNOCAL CORP. V. MESA PETROLEUM CO. 529
13-3 PRIVATE LAW INNOVATION: THE POISON PILL 536 MORAN V. HOUSEHOLD
INTERNATIONAL, INC. 539 13-4 CHOOSING A MERGER OR BUYOUT PARTNER:
REVLON, ITS SEQUELS, AND ITS PREQUELS 546 SMITH V. VAN GORKOM 546
REVLON, INC. V. MACANDREWS AND FORBES HOLDINGS. INC. 554 13-5 PULLING
TOGETHER USOCAL AND REVLOS 559 PARAMOUNT COMMUNICATIONS. INC. V. TIME.
INC. 559 PARAMOUNT COMMUNICATIONS. INC. V. QVC NETWORK, INC. 567 13-6
PROTECTING THE DEAL 581 13.6.1 "NO SHOPS/WO TALKS" AND "FIDUCIARY OUTS"
584 13.6.2 SHAREHOLDER LOCKUPS 585 OMNICARE. INC., V. NCS HEALTHCARE,
INC. 586 13.7 STATE ANTITAKEOVER STATUTES 603 13.7.1 FIRST- AND
SECOND-GENERATION ANTITAKEOVER STATUTES (1968-1987) 603 CTS CORP. V.
DYNAMICS CORP. OF AMERICA 604 13.7.2 THIRD-GENERATION ANTITAKEOVER
STATUTES (1987-2000) 608 13-8 PROXY CONTESTS FOR CORPORATE CONTROL 612
SCHNELL V. CHRIS-CRAFT INDUSTRIES. INC 615 BLASIUS INDUSTRIES. INC. V.
ATLAS CORP. 615 13.9 THE TAKEOVER ARMS RACK CONTINUES 621 139.1 "DEAD
HAND" PILLS 621 XX CONTENTS 13.92 MANDATORY PILL REDEMPTION BYLAWS 623
UNISUPER V. NEWS CORP 625 14 TRADING IN THE CORPORATION'S SECURITIES 629
14.1 COMMON LAW OF DIRECTORS' DUTIES WHEN TRADING IN THE CORPORATION'S
STOCK 629 GOODWIN V. AGASSIZ 630 14.2 THE CORPORATE LAW OF FIDUCIARY
DISCLOSURE TODAY 634 14.2.1 CORPORATE RECOVERY OF PROFIT FROM "INSIDER"
TRADING 635 FREEMAN V. DECIO 636 14.2.2 BOARD DISCLOSURE OBLIGATIONS
UNDER STATE LAW 639 14.3 EXCHANGE ACT §16(B) AND RULE 16 640 14.4
EXCHANGE ACT §10(B) AND RULE 10B-5 643 14.4.1 EVOLUTION OF PRIVATE RIGHT
OF ACTION UNDER §10 644 14.4.2 ELEMENTS OF A 10B-5 CLAIM 645 14.4.2.1
ELEMENTS OF A 10B-5 CLAIM: FALSE OR MISLEADING STATEMENT OR OMISSION 646
SEC V. TEXAS GULF SULPHUR CO. 647 SANTA FE INDUSTRIES INC. V. GREEN 653
14.4.2.2 ELEMENTS OF 10B-5 LIABILITY: THE EQUAL ACCESS THEORY 660
14.4.2.3 ELEMENTS OF 10B-5 LIABILITY: THE FIDUCIARY DUTY THEORY 661
CHIARELLA V. UNITED STATES 663 DIRKS V. SEC 661 UNITED STATES V. CHEST
MAN 676 UNITED STATES V. O'HAGAN 681 14.4.2.4 ELEMENTS OF 10B-5
LIABILITY: MATERIALITY 686 BASIC INC. V. LEVINSON 686 14.4.2.5 ELEMENTS
OF 10B-5 LIABILITY: SCIENTER 690 14.4.2.6 ELEMENTS OF 10B-5 LIABILITY:
STANDING, IN CONNECTION WITH THE PURCHASE OR SALE OF SECURITIES 692
14.4.2.7 ELEMENTS OF 10B-5 LIABILITY: RELIANCE 693 BASIC INC. V.
LEVINSON 693 14.4.2.8 ELEMENTS OF 10B-5 RECOVERY: CAUSATION 699 14.4.3
REMEDIES FOR 10B-5 VIOLATIONS 700 ELKIND V. LIGGETT & MYERS. INC. 700
14.4.4 THE ACADEMIC DEBATE 704 14.4.4.1 INSIDER TRADING AND INFORMED
PRICES 705 14.4.4.2 INSIDER TRADING AS A COMPENSATION DEVICE 707 TABLE
OF CASES 711 INDEX 717 |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Allen, William T. |
| author_GND | (DE-588)133072959 (DE-588)121063348 |
| author_facet | Allen, William T. |
| author_role | aut |
| author_sort | Allen, William T. |
| author_variant | w t a wt wta |
| building | Verbundindex |
| bvnumber | BV022389890 |
| callnumber-first | K - Law |
| callnumber-label | KF1413 |
| callnumber-raw | KF1413 |
| callnumber-search | KF1413 |
| callnumber-sort | KF 41413 |
| callnumber-subject | KF - United States |
| ctrlnum | (OCoLC)612254344 (DE-599)BVBBV022389890 |
| dewey-full | 346.73/065 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 346 - Private law |
| dewey-raw | 346.73/065 |
| dewey-search | 346.73/065 |
| dewey-sort | 3346.73 265 |
| dewey-tens | 340 - Law |
| discipline | Rechtswissenschaft |
| discipline_str_mv | Rechtswissenschaft |
| edition | 2. ed. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02124nam a2200529zc 4500</leader><controlfield tag="001">BV022389890</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20070726 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">070417s2007 xxu |||| 00||| eng d</controlfield><datafield tag="010" ind1=" " ind2=" "><subfield code="a">2006037953</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0735563136</subfield><subfield code="9">0-7355-6313-6</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9780735563131</subfield><subfield code="9">978-0-7355-6313-1</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)612254344</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV022389890</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-M382</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">KF1413</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">346.73/065</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Allen, William T.</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Commentaries and cases on the law of business organization</subfield><subfield code="c">William T. Allen, Reinier Kraakman, Guhan Subramanian</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">2. ed.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">New York, NY</subfield><subfield code="b">Aspen Publ.</subfield><subfield code="c">2007</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XXVI, 737 S.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Recht</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Unternehmen</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Corporation law</subfield><subfield code="z">United States</subfield><subfield code="v">Cases</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Business enterprises</subfield><subfield code="x">Law and legislation</subfield><subfield code="z">United States</subfield><subfield code="v">Cases</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Gesellschaftsrecht</subfield><subfield code="0">(DE-588)4020646-4</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">USA</subfield></datafield><datafield tag="651" ind1=" " ind2="7"><subfield code="a">USA</subfield><subfield code="0">(DE-588)4078704-7</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="8">1\p</subfield><subfield code="0">(DE-588)4153616-2</subfield><subfield code="a">Fallsammlung</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">USA</subfield><subfield code="0">(DE-588)4078704-7</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Gesellschaftsrecht</subfield><subfield code="0">(DE-588)4020646-4</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="8">2\p</subfield><subfield code="5">DE-604</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Kraakman, Reinier H.</subfield><subfield code="d">1949-</subfield><subfield code="e">Sonstige</subfield><subfield code="0">(DE-588)133072959</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="0" ind2=" "><subfield code="a">Iraianban</subfield><subfield code="d">1955-</subfield><subfield code="e">Sonstige</subfield><subfield code="0">(DE-588)121063348</subfield><subfield code="4">oth</subfield></datafield><datafield tag="856" ind1="4" ind2=" "><subfield code="u">http://www.loc.gov/catdir/toc/ecip074/2006037953.html</subfield><subfield code="3">Table of contents only</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">SWBplus Fremddatenuebernahme</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015598737&sequence=000005&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-015598737</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">1\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">2\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield></record></collection> |
| genre | 1\p (DE-588)4153616-2 Fallsammlung gnd-content |
| genre_facet | Fallsammlung |
| geographic | USA USA (DE-588)4078704-7 gnd |
| geographic_facet | USA |
| id | DE-604.BV022389890 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T17:14:17Z |
| indexdate | 2024-07-09T20:56:33Z |
| institution | BVB |
| isbn | 0735563136 9780735563131 |
| language | English |
| lccn | 2006037953 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015598737 |
| oclc_num | 612254344 |
| open_access_boolean | |
| owner | DE-M382 DE-19 DE-BY-UBM |
| owner_facet | DE-M382 DE-19 DE-BY-UBM |
| physical | XXVI, 737 S. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Aspen Publ. |
| record_format | marc |
| spelling | Allen, William T. Verfasser aut Commentaries and cases on the law of business organization William T. Allen, Reinier Kraakman, Guhan Subramanian 2. ed. New York, NY Aspen Publ. 2007 XXVI, 737 S. txt rdacontent n rdamedia nc rdacarrier Recht Unternehmen Corporation law United States Cases Business enterprises Law and legislation United States Cases Gesellschaftsrecht (DE-588)4020646-4 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf 1\p (DE-588)4153616-2 Fallsammlung gnd-content USA (DE-588)4078704-7 g Gesellschaftsrecht (DE-588)4020646-4 s 2\p DE-604 Kraakman, Reinier H. 1949- Sonstige (DE-588)133072959 oth Iraianban 1955- Sonstige (DE-588)121063348 oth http://www.loc.gov/catdir/toc/ecip074/2006037953.html Table of contents only SWBplus Fremddatenuebernahme application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015598737&sequence=000005&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Allen, William T. Commentaries and cases on the law of business organization Recht Unternehmen Corporation law United States Cases Business enterprises Law and legislation United States Cases Gesellschaftsrecht (DE-588)4020646-4 gnd |
| subject_GND | (DE-588)4020646-4 (DE-588)4078704-7 (DE-588)4153616-2 |
| title | Commentaries and cases on the law of business organization |
| title_auth | Commentaries and cases on the law of business organization |
| title_exact_search | Commentaries and cases on the law of business organization |
| title_exact_search_txtP | Commentaries and cases on the law of business organization |
| title_full | Commentaries and cases on the law of business organization William T. Allen, Reinier Kraakman, Guhan Subramanian |
| title_fullStr | Commentaries and cases on the law of business organization William T. Allen, Reinier Kraakman, Guhan Subramanian |
| title_full_unstemmed | Commentaries and cases on the law of business organization William T. Allen, Reinier Kraakman, Guhan Subramanian |
| title_short | Commentaries and cases on the law of business organization |
| title_sort | commentaries and cases on the law of business organization |
| topic | Recht Unternehmen Corporation law United States Cases Business enterprises Law and legislation United States Cases Gesellschaftsrecht (DE-588)4020646-4 gnd |
| topic_facet | Recht Unternehmen Corporation law United States Cases Business enterprises Law and legislation United States Cases Gesellschaftsrecht USA Fallsammlung |
| url | http://www.loc.gov/catdir/toc/ecip074/2006037953.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015598737&sequence=000005&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT allenwilliamt commentariesandcasesonthelawofbusinessorganization AT kraakmanreinierh commentariesandcasesonthelawofbusinessorganization AT iraianban commentariesandcasesonthelawofbusinessorganization |