University of Michigan Law School Professor Adam Pritchard’s recent proposal to reform securities class actions via shareholder proposal has moved from a purely academic discussion to the real world. Prof. Pritchard reports today that a shareholder in Alaska Air has submitted a proposal to the company under Rule 14a-8 to amend Alaska Air’s certificate of incorporation to provide for “a partial waiver of the ‘fraud on the market’ presumption of reliance created by the Supreme Court in Basic v. Levinson.”
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[…] Prof. Adam Pritchard and Securities Class Action Reform: “The Revolution Has Begun (Maybe)&rdq…University of Michigan Law School Professor Adam Pritchard’s recent proposal to reform securities class actions via shareholder proposal has moved from a purely academic discussion to the real world. Prof. Pritchard reports today that a shareholder in Alaska Air has submitted a proposal to the company under Rule 14a-8 to amend Alaska Air’s certificate of incorporation to provide for “a partial waiver of the ‘fraud on the market’ presumption of reliance created by the Supreme Court in Basic v. Levinson.”(securities ) […]
[…] Securities Docket reports today that a method suggested by Michigan law professor Adam Pritchard for companies to avoid or reduce […]
[…] from a purely academic discussion to the real world, and has been submitted to Alaska Air (details here). What are this proposal’s chances? Please weigh in […]