Andersen’s Fall From Grace

Arthur Andersen is all but gone. The accounting firm’s undoing follows the collapse of Enron—a major Andersen client—in the first of an unparalleled series of corporate financial fraud scandals. This Article critically examines the legal strategy Andersen pursued to save the firm. Part I explores why the government felt constrained to prosecute Andersen despite dire warnings that an indictment would deal the firm a fatal blow. Andersen’s history of serious…

Admissibility of Fruits of Breached Evidentiary Privileges: The Importance of Adversarial Fairness, Party Culpability, and Fear of Immunity

Robert P. Mosteller
In civil cases, breaches of attorney-client confidentiality during litigation sometimes result, not only in exclusion of communication, but also in an order prohibiting use of the information obtained from the communication in any way. In criminal prosecutions, provisions of the Constitution under certain fact patterns give protection to attorney-client confidentiality, including the attorney-client privilege, which also prohibits derivative use of the confidential communications. This Article examines two general conclusions reached…

Optimal Regulatory Areas for Securities Disclosure

Merritt B. Fox
The corporate governance scandals of 2003 have brought renewed focus on mandatory disclosure. One of the most fundamental questions relating to this kind of regulation is the choice of regulatory area. This Article constructs an economic-efficiency based theory of optimal regulatory areas for securities disclosure. While larger political and constitutional considerations unrelated to efficiency will inevitably also play a role in the resolution of the debates recounted above, efficiency considerations…

TiVo and the Incentive/Dissemination Conflict: The Economics of Extending Betamax to Personal Video Recorders

Maribel Rose Hilo