Jeffery Lamar Williams, better known as Young Thug, is the latest high-profile rapper to have his rap “lyrics” potentially entered into evidence as part of a criminal trial. Young Thug …
Category: Volume 100
Recent Developments in Mandatory Arbitration Warfare: Winners and Losers (So Far) in Mass Arbitration
Introduction Mass arbitration has sent shock waves through the civil justice system and unnerved the defense bar. To see how quickly and dramatically this phenomenon has entered both the civil justice landscape and the public discourse, one need look no further than the January 2023 filings of hundreds of individual arbitration demands by former Twitter…
Wireless Investors & Apathy Obsolescence
Abstract This Article discusses how a subgenre of retail investors makes investors’ apathy obsolete. In prior work, we dub retail investors who rely on technology and online communications in their investing and corporate governance endeavors “wireless investors.” By applying game theory, this Article discusses how wireless investors’ global-scale online interactions allow them to circulate information…
The Judicial Assault on the Administrative State
Introduction The most substantial change in the United States Government has been the extraordinary growth and increased complexity of the United States Government itself. George Washington initially was President of a country with a population of about four million, eleven States, and three Cabinet Departments (State, Treasury, and War). Washington’s Government had no standing army,…
The Centralization Paradox in Cryptocurrency Markets
Introduction The costly and highly public collapse of cryptocurrency exchange FTX has highlighted two key phenomena central to crypto-market design.[2] First, despite its originating claims to decentralization, crypto-markets are anchored by exchanges that operate in a profoundly centralizing manner. In other words, single organizations act as anchor intermediaries to perform a variety of critical functions:…
The SPAC Market
Introduction Special purpose acquisition companies (SPACs) exploded in popularity in the past few years, to such a degree that they made up 60% of IPOs in 2020, 66.3% in 2021, and 69.4% in 2022.[3] Celebrities from Colin Kaepernick to Jay-Z have launched SPACs,[4] but perhaps the most feverish attention came in October 2021, when a…
Fairness Opinions and SPAC Reform
Abstract This paper assesses the emerging regulatory framework for special purpose acquisition companies (SPACs). According to this framework, mergers of SPACs, known as de-SPACs, must be “fair” to public (or unaffiliated) SPAC shareholders, and transaction participants face heightened liability risk for disclosure errors. In this environment, third-party fairness opinions have been regarded as a de…
Lessons Learned in Prison
One way that I have tried to stay fresh as a teacher through the decades is to periodically force myself outside of my teaching comfort zone by trying something completely…
Of Sinners & Scapegoats: The Economics Of Collective Punishment
Abstract “[I]t is better that ten guilty persons escape than that one innocent suffer.” 4 William Blackstone, Commentaries *358. “[I]t is better that ten innocent men suffer than that one guilty man escape.” Otto von Bismarck, Germany’s first chancellor, quoted in John W. Wade, Uniform Comparative Fault Act, 14 Forum 379, 385 (1979). Punishing the…
Superstar CEOs and Corporate Law
Abstract Larger-than-life corporate leaders, who can move fast and disrupt entrenched players, are often perceived as having the vision, superior leadership, or other exceptional qualities that make them uniquely valuable to their corporation. While the business press, management experts, and financial economists have long studied these “superstar” CEOs, the legal literature has largely overlooked…
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