Why the Approach of Heckmann v. Ahmanson Will Not Become the Prevailing Greenmail Viewpoint: Race to the Bottom Continues

Date

1987

Journal Title

Journal ISSN

Volume Title

Publisher

Texas Tech Law Review

Abstract

Firstly, this article will introduce greenmail. It will then discuss the applicability of both federal and state law to payment of greenmail by target companies, examining prominent cases where appropriate. Finally, it will explain why the Heckmann court's opinion will not become the majority viewpoint. Although the California appellate court in Heckmann reached a just and fair decision, race to the bottom principles will prevent the position taken by the California court from becoming the wave of the future.

Description

Keywords

Heckmann v. Ahmanson, Greenmail, Stocks, Shareholder interests, Fiduciary duty, Securities law

Citation

18 Tex. Tech L. Rev. 1083