Meme Corporate Governance

Vol. 97, No. 6

Meme Corporate Governance

By Dhruv Aggarwal,* Albert H. Choi† & Yoon-Ho Alex Lee‡

Can retail investors revolutionize corporate governance and make public companies more responsive to social concerns? Beginning in 2021, there was a dramatic influx of retail investors into the shareholder base of “meme” stock companies such as GameStop, AMC, and Bed Bath & Beyond. Observing the unprecedented, coordinated trading among retail investors, scholars and practitioners predicted that the influx of retail investors would reduce the power of large institutional investors and democratize . . .

Common Heritage as Public Trust: A Property Law Approach to Managing Resources Beyond National Jurisdiction

Vol. 97, No. 6

Common Heritage as Public Trust: A Property Law Approach to Managing Resources Beyond National Jurisdiction

By Christopher Mirasola*

The search for rare minerals is taking us well beyond the bounds of national jurisdiction, and international law is struggling to keep up. In the 1970s states agreed that the deep seabed beyond national jurisdiction was the “common heritage of mankind,” a doctrine that was ultimately codified in the United Nations Convention on the Law of the Sea. The common heritage doctrine has, from the outset, been something of a chimera. And fears over its association with redistributive economic policies led . . .

Rethinking Tax Information: The Case for Quarterly 1099s

Vol. 97, No. 6

Rethinking Tax Information: The Case for Quarterly 1099s

By Kathleen DeLaney Thomas*

When an electricity provider wants customers to pay their bills monthly, it sends them a bill each month. Yet, this is not how the tax system works—at least not for independent contractors. Their taxes are due quarterly, but they receive a tax statement (Form 1099) only one time a year. It is up to the individual, then, to know when their taxes are due and how to pay them, and it is on that individual to estimate how much they owe each quarter. As a result, compliance for independent contractors—particularly . . .

Public Protest and Governmental Immunities

Vol. 97, No. 6

Public Protest and Governmental Immunities

By Timothy Zick*

This Article presents the findings of a quantitative and qualitative study of the application of qualified immunity and other governmental immunities in the context of public protest. Relying on three unique datasets of federal court decisions examining First Amendment and Fourth Amendment claims, the Article concludes that public protester plaintiffs face an array of obstacles when suing state, local, and federal officials for constitutional injuries. Quantitative findings show that protesters’ . . .

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Public Protest and Governmental Immunities

This Article presents the findings of a quantitative and qualitative study of the application of qualified immunity and other governmental immunities in the context of public protest. Relying on three unique datasets of federal court decisions examining First Amendment and Fourth Amendment claims, the Article concludes that public protester plaintiffs face an array of obstacles

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Rethinking Tax Information: The Case for Quarterly 1099s

When an electricity provider wants customers to pay their bills monthly, it sends them a bill each month. Yet, this is not how the tax system works—at least not for independent contractors. Their taxes are due quarterly, but they receive a tax statement (Form 1099) only one time a year. It is up to the

Read More »

Meme Corporate Governance

Can retail investors revolutionize corporate governance and make public companies more responsive to social concerns? Beginning in 2021, there was a dramatic influx of retail investors into the shareholder base of “meme” stock companies such as GameStop, AMC, and Bed Bath & Beyond. Observing the unprecedented, coordinated trading among retail investors, scholars and practitioners predicted

Read More »

The Failed Promise of Treasuries in Financial Regulation

U.S. government Treasury bonds (“Treasuries”) anchor financial stability. Public regulation mandates that financial firms maintain deep buffers of Treasuries that can be sold for cash in a crisis. In private lending between financial firms—running into trillions of dollars daily—Treasuries are the preferred form of collateral, designed to make debt fully resistant to default. But this

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Postscript