In 2005, popular disgust with several high-profile cases of bankrupt firms paying top executives large “retention” bonuses led Congress to prohibit such bonuses for firms in Chapter 11. In a forthcoming article in the Southern California Law Review, Regulating Bankruptcy Bonuses, Professor Jared Ellias suggests that firms have found ways to evade this prohibition, so… Continue reading Jared Ellias on Regulating Bankruptcy Bonuses
The past few decades have witnessed an explosion in the size of the largest US law firms, and a widely accepted narrative holds that this has had a negative effect on the well-being and professional satisfaction of lawyers practicing at these firms. In an important exploratory study and new paper, When Does Big Law Work?,… Continue reading Abe Cable on When Big Law Works
A “unicorn” in Silicon Valley lingo is a private company that has achieved a valuation of $1 billion or more. During the first dot-com craze in the late 1990s, such creatures were truly imaginary, as companies rushed to go public in the relatively early stages of growth. More recently, unicorns have become startlingly common, as… Continue reading Abe Cable on Stock Options at Unicorn Start-Ups