Enforcing the Bargain v. Materiality Requirement: The Future of Disclosure-Only Settlements Post-Trulia

In In re Trulia, Inc. Stockholder Litigation, the Delaware Court of Chancery broke away from its tradition of routinely approving disclosure-only settlements and required disclosures to be material in order to cure the conflict of interest between plaintiff’s counsel and the plaintiff class. I argue that fairness of settlement is the only standard in approving class action settlements and fairness will not be achieved by requiring materiality. Shareholders are legally entitled to all material information, as the board’s fiduciary duty dictates. Thus, material disclosures are enforcement of a legal duty that is no consideration for the release of shareholder claims. On the other hand, fairness could be achieved by enforcing the bargain if the bargaining process was conducted fairly and in good faith. The agency problem and the conflict of interest between the plaintiff’s counsel and the plaintiff class can be resolved by judicial assessment on whether there was adequate representation based on the effort of the plaintiff’s counsel and the appropriate attorney fee award according to the well-established three-scale system in quantifying the appropriate attorney fees. In addition, overbroad releases can be rescinded under the contract doctrines of fraud and unconscionability if such settlements were fraudulently induced or the release is overbroad compared to the benefit that the disclosures conveyed

The Epistemology and Ethics of Media Markets in the Age of Information

The paper will seek to demonstrate that information as communication has a dual inherent normative structure that commits its disseminators, especially the media, offline and online, to epistemological and ethical principles that are universally mandatory. With regard to the dissemination of information by the media, its business intelligence constituted by its commercial interests as a media market must always be congruent with moral intelligence on the basis of the epistemological and ethical universal principles that the dual normative structure of information gives rise and to which the media itself is committed. When the media?s business intelligence comes into conflict with moral intelligence, the latter must always take precedent over the former. Moreover, the communication of information to the public by the media, offline and online, even if conceived merely as another market commodity, commits the media to ethical conduct regardless of any other commercial interests that may come into conflict with the media?s ethical commitments to the public

Evolutionary model of existing competition and voluntary disclosure

We analyze how, in the absence of capital market incentives, the influence of existing competition on voluntary disclosure is an evolving process which has a non-monotonic design. The progressive capability of rivals to forecast significant information and the increasing losses of abnormal profits during the industry life cycle generate fears and incentives that change the sign of the relationship between competition and the probability of voluntary disclosure throughout the industry’s development. We support this new design empirically by applying a semi-parametric Cox model to 28 years of archival data for the entire Spanish newspaper sector. We also find that the best fitting model is the first harmonic of a Fourier seriesCompetition, Voluntary disclosure, Fourier series, Cox model

Developments Under the Freedom of Information Act—1974

Den här rapporten mäter i vilka miljöer det går att hitta förutbestämda former med OpenCV och en "off-the-shelf" webbkamera.  This project measures in which environments a predetermined shape can be found with OpenCV and "off-the-shelf" webcameras.

Labour market discrimination against former juvenile delinquents: evidence from a field experiment

In view of policy action to integrate ex-offenders into society, it is important to identify the underlying mechanisms of the negative relationship between criminal record on the one hand and later employment and earnings on the other hand. In this study, we identify hiring discrimination against former juvenile delinquents in a direct way. To this end, we conduct a field experiment in the Belgian labour market. We find that labour market discrimination is indeed a major barrier in the transition to work for former juvenile delinquents. Labour market entrants disclosing a history of juvenile delinquency get about 22 percent less callback compared to their counterparts without a criminal record. This discrimination is heterogeneous by the occupation for which one applies

Mobile Privacy and Business-to-Platform Dependencies: An Analysis of SEC Disclosures

This Article systematically examines the dependence of mobile apps on mobile platforms for the collection and use of personal information through an analysis of Securities and Exchange Commission (SEC) filings of mobile app companies. The Article uses these disclosures to find systematic evidence of how app business models are shaped by the governance of user data by mobile platforms, in order to reflect on the role of platforms in privacy regulation more generally. The analysis of SEC filings documented in the Article produces new and unique insights into the data practices and data-related aspects of the business models of popular mobile apps and shows the value of SEC filings for privacy law and policy research more generally. The discussion of SEC filings and privacy builds on regulatory developments in SEC disclosures and cybersecurity of the last decade. The Article also connects to recent regulatory developments in the U.S. and Europe, including the General Data Protection Regulation, the proposals for a new ePrivacy Regulation and a Regulation of fairness in business-to-platform relations