The misappropriation theory of insider trading: a legal, economic, and ethical analysis

Article Abstract:

The misappropriation theory applied to insider trading cases by the courts is inadequate for promoting market integrity as intended by Section 10(b) of the Securities Exchange Act of 1934. Misappropriation theory only applies to cases in which fiduciary duties exist, but the problem of information asymmetry involved in insider trading is much broader. An ethical analysis based on social contract theory rather than property also points to the inadequacies of the misappropriation approach. Trading on information that is not publicly available should be prohibited no matter what the information source is.

Analysis, Insider trading in securities, Insider trading (Securities)

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Construction union use of environmental regulation to win jobs: cases, impact, and legal challenges

Article Abstract:

Some labor unions in the construction industry have intervened in the environmental permit process to pressure contractors to give them jobs. This tactic contravenes federal labor law and has defied broad solutions like RICO, antitrust law and the Labor Management Relations Act. Small claims based on discrete violations by the unions have, at times, worked. Examples discussed include TIC Holdings, Inc's trademark case and Food Lion's abuse of process case. Environmental law may need to be changed so it is more difficult to abuse.

Interpretation and construction, Construction industry, Laws, regulations and rules, Labor unions, Environmental law

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Shall we kill all the lawyers first? Insider and outsider views of the legal profession

Article Abstract:

Historical changes in the type of practice engaged in by lawyers and in the composition of the legal profession have been accompanied by a decline in public esteem of lawyers and an accompanying pejorativeness in the way the profession views itself. Judges have not suffered the same historical decline in public esteem. Judges and elite lawyers continue to be affluent white males. Loosening of professional standards may have contributed to the loss of professional dignity and increase in hustler-type lawyers.

Attorneys, Lawyers, Judges, Statistics, Public opinion, Leadership

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