Archive for May, 2012

A “Common” Problem: Examining the Need for Common Ground in the “Common Enterprise” Element of the Howey Test

BY CHRISTOPHER L. BORSANI, ESQ. An undeniable fact in securities regulation law is that if a transaction is a security, and assuming none of the exemptions of 15 U.S.C. 77c apply, then that security must be registered with the Securities and Exchange Commission (“SEC” or “the Commission”). Whether or not […]

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Only “the Punctilio” if I Say So: How Contractual Limitations on Fiduciary Duties Deny Protection to Victims of Oppressive Freeze-Outs within Private Business Entities

BY MARY-HUNTER MORRIS Justice Cardozo first famously formulated the unassailable core of fiduciary duties in Meinhard v. Salmon: “Joint adventurers, like co-partners, owe to one another the duty of the finest loyalty something stricter than the morals of the market place. Not honesty alone, but the punctilio of an honor the […]

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