Use of Economic Analysis in Fraud on the Market Cases

In 1988, in Basic, Inc. v. Levinson,1 (Basic), the United States Supreme Court adopted the fraud on the market theory in order to create a presumption of reliance in a Security & Exchange Commissions Rule 10(b) securities fraud case. This article first explains the economic and legal background behind the fraud on the market presumption. Then, the landmark case of Basic is examined for guidance in applying the presumption and proving defenses to that presumption. Lastly, it is shown how economic analysis can be used in proving or disproving fraud on the market, including an empirical study of the events in Basic. The Court\u27s decision in Basic invites the use of economic/financial analysis, without recognition or guidance concerning that use. This article illustrates the importance of financial analysis in pursuing and defending a securities fraud case based on the fraud on the market presumption

Use of Economic Analysis in Fraud on the Market Cases

In 1988, in Basic, Inc. v. Levinson,1 (Basic), the United States Supreme Court adopted the fraud on the market theory in order to create a presumption of reliance in a Security & Exchange Commissions Rule 10(b) securities fraud case. This article first explains the economic and legal background behind the fraud on the market presumption. Then, the landmark case of Basic is examined for guidance in applying the presumption and proving defenses to that presumption. Lastly, it is shown how economic analysis can be used in proving or disproving fraud on the market, including an empirical study of the events in Basic. The Court\u27s decision in Basic invites the use of economic/financial analysis, without recognition or guidance concerning that use. This article illustrates the importance of financial analysis in pursuing and defending a securities fraud case based on the fraud on the market presumption

A pneumatically powered knee-ankle-foot orthosis (KAFO) with myoelectric activation and inhibition

<p>Abstract</p> <p>Background</p> <p>The goal of this study was to test the mechanical performance of a prototype knee-ankle-foot orthosis (KAFO) powered by artificial pneumatic muscles during human walking. We had previously built a powered ankle-foot orthosis (AFO) and used it effectively in studies on human motor adaptation, locomotion energetics, and gait rehabilitation. Extending the previous AFO to a KAFO presented additional challenges related to the force-length properties of the artificial pneumatic muscles and the presence of multiple antagonistic artificial pneumatic muscle pairs.</p> <p>Methods</p> <p>Three healthy males were fitted with custom KAFOs equipped with artificial pneumatic muscles to power ankle plantar flexion/dorsiflexion and knee extension/flexion. Subjects walked over ground at 1.25 m/s under four conditions without extensive practice: 1) without wearing the orthosis, 2) wearing the orthosis with artificial muscles turned off, 3) wearing the orthosis activated under direct proportional myoelectric control, and 4) wearing the orthosis activated under proportional myoelectric control with flexor inhibition produced by leg extensor muscle activation. We collected joint kinematics, ground reaction forces, electromyography, and orthosis kinetics.</p> <p>Results</p> <p>The KAFO produced ~22%–33% of the peak knee flexor moment, ~15%–33% of the peak extensor moment, ~42%–46% of the peak plantar flexor moment, and ~83%–129% of the peak dorsiflexor moment during normal walking. With flexor inhibition produced by leg extensor muscle activation, ankle (Pearson r-value = 0.74 ± 0.04) and knee ( r = 0.95 ± 0.04) joint kinematic profiles were more similar to the without orthosis condition compared to when there was no flexor inhibition (r = 0.49 ± 0.13 for ankle, p = 0.05, and r = 0.90 ± 0.03 for knee, p = 0.17).</p> <p>Conclusion</p> <p>The proportional myoelectric control with flexor inhibition allowed for a more normal gait than direct proportional myoelectric control. The current orthosis design provided knee torques smaller than the ankle torques due to the trade-off in torque and range of motion that occurs with artificial pneumatic muscles. Future KAFO designs could incorporate cams, gears, or different actuators to transmit greater torque to the knee.</p

Kinematics and muscle activity of individuals with incomplete spinal cord injury during treadmill stepping with and without manual assistance

<p>Abstract</p> <p>Background</p> <p>Treadmill training with bodyweight support and manual assistance improves walking ability of patients with neurological injury. The purpose of this study was to determine how manual assistance changes muscle activation and kinematic patterns during treadmill training in individuals with incomplete spinal cord injury.</p> <p>Methods</p> <p>We tested six volunteers with incomplete spinal cord injury and six volunteers with intact nervous systems. Subjects with spinal cord injury walked on a treadmill at six speeds (0.18–1.07 m/s) with body weight support with and without manual assistance. Healthy subjects walked at the same speeds only with body weight support. We measured electromyographic (EMG) and kinematics in the lower extremities and calculated EMG root mean square (RMS) amplitudes and joint excursions. We performed cross-correlation analyses to compare EMG and kinematic profiles.</p> <p>Results</p> <p>Normalized muscle activation amplitudes and profiles in subjects with spinal cord injury were similar for stepping with and without manual assistance (ANOVA, p > 0.05). Muscle activation amplitudes increased with increasing speed (ANOVA, p < 0.05). When comparing spinal cord injury subject EMG data to control subject EMG data, neither the condition with manual assistance nor the condition without manual assistance showed a greater similarity to the control subject data, except for vastus lateralis. The shape and timing of EMG patterns in subjects with spinal cord injury became less similar to controls at faster speeds, especially when walking without manual assistance (ANOVA, p < 0.05). There were no consistent changes in kinematic profiles across spinal cord injury subjects when they were given manual assistance. Knee joint excursion was ~5 degrees greater with manual assistance during swing (ANOVA, p < 0.05). Hip and ankle joint excursions were both ~3 degrees lower with manual assistance during stance (ANOVA, p < 0.05).</p> <p>Conclusion</p> <p>Providing manual assistance does not lower EMG amplitudes or alter muscle activation profiles in relatively higher functioning spinal cord injury subjects. One advantage of manual assistance is that it allows spinal cord injury subjects to walk at faster speeds than they could without assistance. Concerns that manual assistance will promote passivity in subjects are unsupported by our findings.</p

The effects of powered ankle-foot orthoses on joint kinematics and muscle activation during walking in individuals with incomplete spinal cord injury

BACKGROUND: Powered lower limb orthoses could reduce therapist labor during gait rehabilitation after neurological injury. However, it is not clear how patients respond to powered assistance during stepping. Patients might allow the orthoses to drive the movement pattern and reduce their muscle activation. The goal of this study was to test the effects of robotic assistance in subjects with incomplete spinal cord injury using pneumatically powered ankle-foot orthoses. METHODS: Five individuals with chronic incomplete spinal cord injury (ASIA C-D) participated in the study. Each subject was fitted with bilateral ankle-foot orthoses equipped with artificial pneumatic muscles to power ankle plantar flexion. Subjects walked on a treadmill with partial bodyweight support at four speeds (0.36, 0.54, 0.72 and 0.89 m/s) under three conditions: without wearing orthoses, wearing orthoses unpowered (passively), and wearing orthoses activated under pushbutton control by a physical therapist. Subjects also attempted a fourth condition wearing orthoses activated under pushbutton control by them. We measured joint angles, electromyography, and orthoses torque assistance. RESULTS: A therapist quickly learned to activate the artificial pneumatic muscles using the pushbuttons with the appropriate amplitude and timing. The powered orthoses provided ~50% of peak ankle torque. Ankle angle at stance push-off increased when subjects walked with powered orthoses versus when they walked with passive-orthoses (ANOVA, p < 0.05). Ankle muscle activation amplitudes were similar for powered and passive-orthoses conditions except for the soleus (~13% lower for powered condition; p < 0.05). Two of the five subjects were able to control the orthoses themselves using the pushbuttons. The other three subjects found it too difficult to coordinate pushbutton timing. Orthoses assistance and maximum ankle angle at push-off were smaller when the subject controlled the orthoses compared to when the therapist-controlled the orthoses (p < 0.05). Muscle activation amplitudes were similar between the two powered conditions except for tibialis anterior (~31% lower for therapist-controlled; p < 0.05). CONCLUSION: Mechanical assistance from powered ankle-foot orthoses improved ankle push-off kinematics without substantially reducing muscle activation during walking in subjects with incomplete spinal cord injury. These results suggest that robotic plantar flexion assistance could be used during gait rehabilitation without promoting patient passivity

Results of correlations for transition location on a clean-up glove installed on an F-14 aircraft and design studies for a laminar glove for the X-29 aircraft accounting for spanwise pressure gradient

Results of correlative and design studies for transition location, laminar and turbulent boundary-layer parameters, and wake drag for forward swept and aft swept wings are presented. These studies were performed with the use of an improved integral-type boundary-layer and transition-prediction methods. Theoretical predictions were compared with flight measurements at subsonic and transonic flow conditions for the variable aft swept wing F-14 aircraft for which experimental pressure distributions, transition locations, and turbulent boundary-layer velocity profiles were measured. Flight data were available at three spanwise stations for several values of sweep, freestream unit Reynolds number, Mach numbers, and lift coefficients. Theory/experiment correlations indicate excellent agreement for both transition location and turbulent boundary-layer parameters. The results of parametric studies performed during the design of a laminar glove for the forward swept wing X-29 aircraft are also presented. These studies include the effects of a spanwise pressure gradient on transition location and wake drag for several values of freestream Reynolds numbers at a freestream Mach number of 0.9

The Index Offence Representation Scales; a predictive clinical tool in the management of dangerous, violent patients with personality disorder?

Forensic mental health professionals attach considerable importance to their patient's description of his or her index offence. Despite this, there is no systematic approach to examining and formulating the patient's offence narrative

Molecular and mass spectroscopic analysis of isotopically labeled organic residues

Experimental studies aimed at understanding the evolution of complex organic molecules on interstellar grains were performed. The photolysis of frozen gas mixtures of various compositions containing H2O, CO, NH3, and CH4 was studied. These species were chosen because of their astrophysical importance as deducted from observational as well as theoretical studies of ice mantles on interstellar grains. These ultraviolet photolyzed ices were warmed up in order to produce refractory organic molecules like the ones formed in molecular clouds when the icy mantles are being irradiated and warmed up either by a nearby stellar source or impulsive heating. The laboratory studies give estimates of the efficiency of production of such organic material under interstellar conditions. It is shown that the gradual carbonization of organic mantles in the diffuse cloud phase leads to higher and higher visual absorptivity - yellow residues become brown in the laboratory. The obtained results can be applied to explaining the organic components of comets and their relevance to the origin of life

The Effect of Inclusion of a Range of Supplementary Feeds on Herbage Intake, Total Dry Matter Intake and Substitution Rate in Grazing Dairy Cows

The milk production potential of dairy cows has increased substantially over the past two decades. This development presents new challenges for managing dairy cows during grazing, particularly where the objective is to maximise the proportion of energy in the diet derived from forage. The objective of the current study was to explore supplementation strategies to maintain high total forage intakes from grazed grass supplemented with alternative forage supplements in dairy cows during the grazing season. A second objective of the study was to examine the effect of supplement on substitution rate (SR) and milk yield response