Professor Richard Squire Writes One of Top 10 Corporate Articles of 2012May 08, 2013
Fordham Law Professor Richard Squire’s article “How Collective Settlements Camouflage the Costs of Shareholder Lawsuits,” 62 Duke Law Journal 1 (2012), has been selected as one of the top ten corporate and securities articles of 2012.
The article was chosen through the Corporate Practice Commentator’s 19th annual poll, in which teachers of corporate and securities law were asked to make selections from a list of articles published and indexed in legal journals during 2012. More than 550 articles were on this year’s list.
Squire’s article addresses the way corporations insure against liability in shareholder lawsuits by purchasing tiered coverage from multiple insurers who each cover a distinct segment of the potential damages range. Squire argues that the “duty to contribute,” which requires an insurer to pay its policy amount when the plaintiff makes a settlement demand that exceeds that amount and another insurer or the corporation is willing to pay the rest, biases negotiations toward settlements that overcompensate plaintiffs.
Squire, who specializes in corporations and corporate bankruptcy, has been a member of the Fordham Law faculty since 2006. He was named Teacher of the Year in both 2011 and 2012.