Remove trade-ideas
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Activist Settlements: Fiduciary Questions for Boards

Harvard Corporate Governance

Boards often settle actual or threatened proxy fights by trading away board seats to activists. Delaware courts will analyze this trade as a defensive device, much like greenmail, where the board trades away something valuable to avoid a battle for corporate control. Bebchuk, Alon Brav, Wei Jiang, and Thomas Keusch.

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NC Treasurer Backs FTC On Hospital Merger Challenge

Law 360 M&A

North Carolina's treasurer agreed Monday that Novant Health's $320 million plan to pick up a pair of hospitals is a bad idea, throwing its weight behind the Federal Trade Commission's challenge to the deal in federal court.

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Secret and Overt Information Acquisition in Financial Markets

Harvard Corporate Governance

Investors may have incentives to keep secret these activities to maintain their trading advantage over the market. The idea can be viewed as an extension of Regulation Fair Disclosure (Reg FD), which aims to prevent selective disclosure of material nonpublic information and ensure a level playing field for all investors.

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How the Misappropriation Theory Affects the Amount of Insider Trading

Reynolds Holding

Few types of behavior attract as much attention in corporate and securities law as insider trading – that is, securities transactions based on material non-public information (MNPI). [1] Since the 1980s, the “classical theory” was the primary doctrine that courts employed to prevent insider trading.

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Speech by Chair Gensler on Kennedy and Crypto

Harvard Corporate Governance

The basic idea was that the public deserves disclosure and protections not only when a security is initially issued, but also on an ongoing basis when the security is traded in the secondary markets. That statute covered intermediaries, such as the exchanges themselves and the broker-dealers. Congress knew the job still wasn’t done.

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Separating Ownership and Information

Harvard Corporate Governance

We show that the separation of ownership and control is necessary for efficient trade in the market for corporate control. We build on the basic idea that insiders obtain private information by virtue of exercising control. We develop a model of the market for corporate control with two-sided asymmetric information.

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Comment on Should Property Data Collectors Be Licensed? by GKBNM

Appraisers Blog

Some of the regulations coming out of FNMA (a government endorsed, publicly traded, private company) are in direct conflict with appraiser legal requirements, yep, no kidding. Little over the top but you get the idea. But we don’t hear any grumbling from the Appraisal Institute, do we? Where are they?