The fiduciary responsibilities of investment bankers in change-of-control transactions

Article Abstract:

The US Court of Appeals for the 9th Circuit, in In re Daisy Systems Corp. in 1996, declared that investment bankers owe broad fiduciary duties to their clients in change-of-control transactions. These transactions include mergers, acquisitions, and the financing and defensive actions that generally follow them. By creating fiduciary liability for investment bankers, the Court will drive up costs of such transactions while protecting neither shareholders nor traditional principles of corporate governance.

Cases, Investment banks, Acquisitions and mergers, Corporate governance, Case Note, Fiduciary duties

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Typography in the U.S. Reports and Supreme Court voting protocols

Article Abstract:

The author analyzes the outline-style formatting used in drafting the US Supreme Court's decisions and argues that the formatting style has evolved into a means of engaging in strategic behavior by the Justices. The incidence of voting by part by the Justices is evaluated.

Methods, Judicial opinions

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Should justices ever switch votes? Miller v. Albright in social choice perspective

Article Abstract:

The author examines a rare occurrence in the US Supreme Court's practice, when judges switch votes to avoid the court coming to an opposite holding but which is inconsistent with their own logic, using a social choice model.

Models, Judicial process, Social choice

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