News

Professor Patrick Corrigan’s article on IPO pricing cited in SEC order

For the second time this year, a final order by the Securities and Exchange Commission cited Notre Dame Law Professor Patrick Corrigan’s article “The Seller’s Curse and the Underwriter’s Pricing Pivot: A Behavioral Theory of IPO Pricing.”

The recent order, issued May 19, cited Corrigan’s article in approving a change to the Nasdaq rules that allow companies to undertake primary direct listings. The new rule permits issuers, under certain conditions, to list their securities on the Nasdaq and to sell their securities in a registered offering by an auction directly on the exchange and without the participation of an underwriter. Such primary direct listings constitute a new alternative to the traditional underwritten initial public offering, which are typically priced by a negotiation between the issuer and the underwriter instead of an auction, and which typically involve a distribution of the issuer’s securities by an underwriter.…

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Dan Kelly on ND Day Broadcast

Notre Dame Law Professor Dan Kelly joined the ND Day broadcast to discuss the Fitzgerald Institute for Real Estate, where he serves as faculty director. Watch here.…

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ND Law’s IP students compete in national finals of Saul Lefkowitz Moot Court Competition

Notre Dame Law School’s team of intellectual property students won the award for second-best brief in the entire country this past weekend when they competed in the national championship round of the Saul Lefkowitz Moot Court Competition.

The team consists of third-year law students Chelsea Spence, Isaac Behnawa, and Jaemie Paraon, and second-year students Brittany Von Rueden, Caroline Wenzel, and Kristen Burns.…

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SEC order cites Professor Patrick Corrigan's paper on IPO pricing

A final order by the Securities and Exchange Commission cited to Professor Patrick Corrigan's article, "The Seller's Curse and the Underwriter's Pricing Pivot: A Behavioral Theory of IPO Pricing."

The Securities and Exchange Commission's final order approved a change to the New York Stock Exchange's rules that permits companies to sell primary securities in a direct listing. Under the new rule, issuers are permitted, under certain conditions, to list their securities on the New York Stock Exchange and to sell their securities in a registered offering by an auction directly on the exchange and without the participation of an underwriter. Such "primary direct listings" constitute a new alternative to the traditional underwritten initial public offering, which are typically priced by a negotiation between the issuer and the underwriter instead of an auction, and which typically involve a distribution of the issuer's securities by an underwriter.…

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Professor Patrick Corrigan's "Footloose with Green Shoes: Can Underwriters Profit from IPO Underpricing?"

Professor Patrick Corrigan writes for the Harvard Law School Forum on Corporate Governance. Read his post here. The post is based on his recent paper, forthcoming in the Yale Journal on Regulation.

In his latest Money Stuff newsletter, Matt Levine discusses Professor Patrick Corrigan's "Footloose with Green Shoes: Can Underwriters Profit from IPO Underpricing?" Read more here

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Avishalom Tor delivers behavioral antitrust talk to the Department of Justice antitrust division

Avishalom Tor, professor and director of the Research Program on Law and Market Behavior at Notre Dame Law School, delivered a virtual lecture to lawyers and economists of the Department of Justice’s antitrust division in Washington D.C. and throughout the country earlier this summer. 

The lecture was part of a series exploring new frontiers in economics and competition policy. Tor’s talk, “Behavioral Lessons for Antitrust Enforcement,” challenged attendees to think about antitrust enforcement in new ways and to consider the application of empirical behavioral findings to antitrust law and policy.

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Professor Dan Kelly to present paper at conferences this fall

Professor Dan Kelly will present "Double Deterrence: On Disgorgement and Punitive Damages in Trust Law," at the annual meeting of the European Association for Law and Economics in September 2020 and at the Harvard Law Private Law Workshop in October 2020.…

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