December 3, 2008

Securities Docket: "University of Michigan Law School Professor Adam Pritchard's recent proposal to reform securities class actions via shareholder proposal has moved from a purely academic discussion to the real world. Prof. Pritchard reports today that a shareholder in Alaska Air has submitted a proposal to the company under Rule 14a-8 to amend Alaska Air's certificate of incorporation to provide for 'a partial waiver of the "fraud on the market" presumption of reliance created by the Supreme Court in Basic v. Levinson.'" Earlier here and here.