Balancing the harms and benefits of speech—what this Article calls “free speech consequentialism”—is pervasive and seemingly unavoidable. Under current doctrine, courts determine if speech can be regulated using various forms of free speech consequentialism, such as weighing whether a particular kind of speech causes harms that outweigh its benefits, or asking whether the government has especially strong reasons for regulating particular...
Introduction Sellers of patented products ranging from printer cartridges to pharmaceuticals frequently charge higher prices in the United States than they do abroad. To maintain this price differential, such sellers often prohibit the resale of their goods in the United States. The Federal Circuit has maintained that importers may be sued for infringing U.S. patents […]
The 2008 financial crisis raised puzzles important for understanding how the capital market prices common stocks and in turn, for the intersection between law and finance. During the crisis, there was a dramatic five-fold spike, across all industries, in “idiosyncratic risk”—the volatility of individual-firm share prices after adjustment for movements in the market as a whole.
This phenomenon is not limited to the most recent financial...
When governmental actors offend federal rights, victims are often left with no one to hold accountable in federal courts. This Article explores this accountability gap in cases involving local officials’ violations of the Constitution. Local government, after all, is the layer of government that is often closest to our daily lives, from law enforcement to education. This Article argues that as a descriptive matter, contrary...
For me, Harvey Goldschmid and Columbia are inextricably connected. I can’t think of one without the other. Harvey discovered his passion for learning as a student at the college and the law school. Only five years after graduating, Harvey returned to Columbia to join our faculty, serving for four and a half decades. When […]
Others in this tribute, more qualified to do so, will certainly comment on Harvey Goldschmid’s impeccable scholarship and outstanding public service. I will devote my space to our personal and professional relationship spanning forty-plus years in many endeavors, often connected to Columbia Law School. Harvey will be remembered as not only brilliant, but […]
The legal community suffered a great loss with the passing of Professor Harvey Goldschmid on February 12, 2015. A renowned legal scholar and policymaker, Professor Goldschmid greatly influenced modern securities law through his time at the Securities and Exchange Commission (SEC), where over the span of his career he served as a Commissioner, General Counsel, […]
Much attention has recently been given to the current Securities and Exchange Commission reporting requirements for Schedule 13D, the beneficial ownership form many investors must file to report their equity holdings. However, relatively less focus has been given to the Schedule 13G, the short-form filing option, which requires less information and tends to attract less attention. The choice between the 13G or the 13D filing can come down...
Until the Supreme Court put an end to it in Shelby County v. Holder, section 5 of the Voting Rights Act was widely regarded as an effective, low-cost tool for blocking potentially discriminatory changes to election laws and administrative practices. The provision the Supreme Court left standing, section 2, is generally seen as expensive, cumbersome, and almost wholly ineffective at blocking changes before they take effect. This Article...
In 1970, Congress enacted the Fair Credit Reporting Act (FCRA) to address concerns that inadequate safeguards existed to protect consumers in their interactions with credit reporting agencies. Government regulation of credit reporting is critical because the structure of the credit reporting industry does not adequately incentivize credit reporting agencies to maintain accuracy in consumers’ credit reports. Since the enactment of the FCRA, the...