Law and Contemporary Problems

A quarterly law journal publishing issues devoted to papers on a particular topic of contemporary interest. Topics usually reflect an interdisciplinary perspective with contributions by lawyers, economists, social scientists, scholars in other disciplines

Articles from Vol. 64, No. 2-3, Spring-Summer

A Comparison of Trading Models Used for Calculating Aggregate Damages in Securities Litigation
MICHAEL BARCLAY [*] FRANK C. TORCHIO [**] I INTRODUCTION II For approximately two decades, the General Trading Model ("GTM") has been used in securities litigation to estimate the number of shares damaged by alleged fraudulent misrepresentations...
Aggregation, Auctions, and Other Lead Developments in the Selection of Lead Counsel under the PSLRA
JILL E. FISCH [*] I INTRODUCTION The Private Securities Litigation Reform Act of 1995 (the "PSLRA") [1] reflects an innovative congressional effort to refine securities fraud class actions. In adopting the PSLRA, Congress recognized that although...
A Modest Reform for Federal Procedural Rulemaking
CARL TOBIAS [*] The Judicial Conference of the United States Advisory Committee on Civil Rules (the "Advisory Committee"), which has primary responsibility to study the Federal Rules of Civil Procedure (the "Federal Rules") and to formulate recommendations...
Beyond "It Just Ain't Worth It": Alternative Strategies for Damage Class Action Reform
DEBORAH R. HENSLER [*] THOMAS D. ROWE JR. [**] I INTRODUCTION We begin with the premise that private class actions for money damages can yield significant social benefits. Class actions for damages can provide compensation for modest but...
Confronting the Future: Coping with Discovery of Electronic Material
RICHARD L. MARCUS [*] I INTRODUCTION It is always unpleasant to be caught on the wrong side of a generation gap, and people my age may be on the wrong side of the computer generation gap. The title of this article may be a misnomer, for, according...
Contingent Fees and Tort Reform: A Reassessment and Reality Check
ELIHU INSELBUCH [*] I INTRODUCTION Many consumer organizations, public advocates, labor unions, and plaintiffs' lawyers view the United States' system of contingent fees as nothing less than the average citizen's "key to the courthouse door,"...
Kumho and How We Know
JOSEPH SANDERS [*] I INTRODUCTION In the summer of 1999, the United States Supreme Court issued the last in a trilogy of 1990s cases dealing with the question of the admissibility of expert testimony in federal courts. [1] In Kumho Tire Co....
Loser Pays - or Whose "Fault" Is It Anyway: A Response to Hensler-Rowe's "Beyond It Just Ain't Worth It."(response to Article by Deborah Hensler and Thomas Rowe in This Issue, P. 137)
MARC I. GROSS [*] I INTRODUCTION While acknowledging the benefits of class actions, Professors Hensler and Rowe propose a fundamental change that would sound their death knell. [1] The authors urge consideration of a loser-pays provision modified...
Pleading Securities Fraud
ELLIOTT J. WEISS [*] I INTRODUCTION Seven years ago, Chief Judge Jon O. Newman highlighted the "inevitable tension" in securities class actions: On the one hand, there is the interest in deterring fraud in the securities markets and remedying...
Scientific Misconceptions among Daubert Gatekeepers: The Need for Reform of Expert Review Procedures
JAN BEYEA [*] DANIEL BERGER [**] I INTRODUCTION The Supreme Court's opinions in Daubert v. Merrell Dow Pharmaceuticals, Inc. [1], General Electric Company v. Joiner [2], and Kumho Tire v. Carmichael [3] contain two inconsistent views of...
The Nontrial Adversarial Model
JOEL SELIGMAN [*] I INTRODUCTION During the past two decades, a nontrial adversarial model has evolved for deciding private securities law claims. Underlying this evolution are three different types of dynamics: (1) a dramatic growth in the...
Ulysses Tied to the Generic Whipping Post: The Continuing Odyssey of Discovery "Reform."
JEFFREY W. STEMPEL [*] I INTRODUCTION One need not be a charter member of the Critical Legal Studies Movement ("CLS") to see a few fundamental contradictions in litigation practice in the United States. [1] A prominent philosophical tenet...
Upsetting the Balance between Adverse Interests: The Impact of the Supreme Court's Trilogy on Expert Testimony in Toxic Tort Litigation
MARGARET A. BERGER [*] I INTRODUCTION In 1948, in Michelson v. United States, [1] Justice Jackson declined to modify the common law rules on character evidence. He warned that "[t]o pull one misshapen stone out of the grotesque structure is...

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