We examine whether institutional investors are able to avoid future litigation. Our results show that institutions provide a fiduciary role by decreasing or eliminating their positions in sued firms well before litigation begins. We also find that institutional groups with high monitoring ability (independent investment advisors and mutual funds) are more proactive in their trading behavior than are institutions with low monitoring ability (banks, insurance companies, and unclassified institutions such as endowments, foundations, and self-managed pension funds). We find that percentage changes in institutional ownership are correlated with public information available more than two quarters before litigation.
Beginning in the late 1930s, the US Supreme court abandoned its close scrutiny of federal executive branch agencies and adopted a policy of judicial acquiescence to the federal administrative process which remained in force through the late 1960s. Writing in 1968, public law scholar, Martin Shapiro, aggressive that, at least during the last twenty years the federal court system has devoted the vast bulk of its energies to simply giving legal approval to agency decisions. The essay argues that a new public law risk management model is gradually replacing the public law litigation model in terms of defining the relationship between public administration and the judiciary. Instead upon relying upon the courts to resolve disputes between public agencies and those private interests, the publ...
[...] the litigation was focused on companies that made asbestos-containing products.6 Then, when most of those companies went bankrupt, the litigation spread to premises owners in claims brought by independent contractors. [...] asbestos litigation in most jurisdictions is now primarily focused on claimants alleging asbestos-related mesothelioma.
[...] several states have made improvements and now have litigation climates that favor growth and job creation since this Guide was first presented in 2007. Various medical associations list the Commonwealth as "extreme crisis" for health care, owing in large measure to exorbitant liability insurance fostered by medical malpractice lawsuits.
Following two straight years of reporting declines in the number of new lawsuits and regulatory proceedings - including a drop in large-dollar cases - U.S. companies now anticipate an uptick in new actions and government probes, as well as the need to hire more in-house litigation staff to help manage the expected rise in disputes. With the economy having fully shifted into bear mode, Dillard observed that in-house counsel were expressing concern that all-out actions could spill onto multiple fronts - not only the perennial contract and employment matters, but also cases stemming from professional liability real estate, insurance coverage bankruptcy theft of IP and trade secrets, and securities litigation.
Multisource or 360-degree feedback occupies a prominent role in organizations' performance management systems. To date, research has not linked the use of multisource feedback (MSF) to employees' litigation intentions. We propose a model that relates organizational decisions made about MSF (potential antecedents) to perceptions of rater and system forms of procedural justice, which we propose subsequently influence litigation intentions. The model offers a theoretical contribution to the literature in that it expands the linkage between the diverse literatures of multisource feedback and organizational justice. Further, from a practical perspective, we elevate awareness of MSF as a process that merits the same attention to legal standards as do other human resource practices. Finally, w...
In May 2008, AICPA introduced a new credential, Certified in Financial Forensics, or CFF. The credential was created to recognize CPAs who have the specialized education and experience to be premier providers of forensic accounting services. Through this credential, AICPA wanted to demonstrate an alignment between the core CPA skills and the more specialized expertise of forensic accounting. As this credential becomes more widespread, there likely will be increased demand for continuing educational opportunities and other resources at the state and national level for those with specialized forensic practices. This is a positive development for those in the forensic field. CFF applicants must have a valid, unrevoked CPA license, and be members in good standing of the AICPA. At least five...
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