'Hybrid' stock can attract investors; 'capped' preferred securities offer value to stockholders as well as founders, management
Article Abstract:
Stock-for-stock acquisitions are the main way of making venture-backed companies liquid and are popular in the robust health of the stock market in the 1990s. Many venture capitalists do not insist on preferred stock liquidation preferences which are fully participating, and rely instead on the hybrid participating preferred or non-participating preferred as market vehicles to attract the best portfolio companies. Investors can keep preferred preferences in acquisitions when needed, and align their interests with management if a successful company results.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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Weighing the value of change
Article Abstract:
The Judicial Conference Advisory Committee on the Federal Rules of Civil Procedure (FRCP) proposed comprehensive changes to these rules in Aug 1991. Changes to FRCP 30, 31 and 33 would standardize limitations on the extent of discovery already in place in many courts. Proposals for FRCP 26 are more problematic, since they require subjective judgments by counsel that would later be evaluated objectively. Few trial judges exercise the discretion they all possess, however, and time limitations should apply to all involved.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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Stupid lawyer tricks: an essay on discovery abuse
Article Abstract:
Judges should use minor, but annoying, sanctions to punish litigators for discovery abuses. Efforts to litigate zealously that turn into paperwork battles between attorneys waste the court's time and the clients' money. Sanctions are only levied at present for the most egregious conduct, so litigators know that some portion of abusive conduct will be tolerated. More frequent scolding and sanctioning from judges will provide attorneys with a better understanding of ethical rules.
Publication Name: Columbia Law Review
Subject: Law
ISSN: 0010-1958
Year: 1996
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