Business Organizations Law | Law | Securities Law
When I was an upper-year student at Yale Law School in the late 1960s, I was sometimes as undermotivated as contemporary upper-year law students regularly appear to be. But there was then an appropriate role model for us: a graduate student, brimming with efficiency and self-discipline, who occupied a carrel in the law library, seemingly working day and night on a special research project. He had piled law review articles and cases a foot or more about his carrel, and anyone walking by could see that he seemed obsessed with something called Rule 10b-5. I had dimly heard of this rule, but did not pay it much attention at the time because the Rule received only the briefest mention in Baker and Cary (then virtually the only casebook on Corporations). Regrettably, I never struck up a conversation with this diligent graduate student, who, of course, was Alan Bromberg, then working on what became his authoritative treatise on securities fraud. Like ships passing in the night, we did not meet. This brief article will constitute my apology for my short-sightedness.
John C. Coffee Jr.,
Loser Pays: The Latest Installment in the Battle-Scarred, Cliff-Hanging Survival of the Rule 10b-5 Class Action,
SMU L. Rev.
Available at: https://scholarship.law.columbia.edu/faculty_scholarship/2896