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...judge has ordered the case to go to trial as soon as next February. The SEC could instead try to strike a new settlement that satisfies the judge, but based on Rakoff's ruling, law professor John Coffee, who teaches a class with Rakoff at Columbia, says it is unlikely the judge would accept a substitute settlement that doesn't name any individual executives. Lewis, as the chief executive of the bank, is an obvious target. The SEC has yet to say whether it plans to pursue charges against Lewis or any other executive at Bank of America...

Author: /time Magazine | Title: The Rise and Sudden Fall of Bank of America's Ken Lewis | 9/18/2009 | See Source »

...doesn't have to be something that moves the market to amount to proxy fraud," says Richard Painter, a law professor at the University of Minnesota. "Just has to be something that a reasonable investor finds important...

Author: /time Magazine | Title: The Rise and Sudden Fall of Bank of America's Ken Lewis | 9/18/2009 | See Source »

...article to appear. The free access not only benefits readers but is especially beneficial for authors looking to expand their readership. “Open-access journals and closed-access journals operate in exactly the same way with the exception of their business models,” Computer Science Professor Stuart M. Shieber ’81, the faculty director of the Office for Scholarly Communication at Harvard, wrote in an e-mailed statement. Even under the open-access model, authors generally must pay fees to publishers. This has led some professors to worry that the economic downturn will keep...

Author: By Linda Zhang, CONTRIBUTING WRITER | Title: Harvard Pushes Open Access | 9/18/2009 | See Source »

Despite the terms at their disposal, police departments often prefer to dub an individual a person of interest because it has a measure of political correctness that technical terms lack, according to Dr. Rande Matteson, an ex-officer and professor of criminal justice at Florida's Saint Leo University. Matteson says the term is "less damaging" than dubbing someone a suspect, particularly if the police prove to be wrong in their identification. Cynthia Hujar Orr, president of the National Association of Criminal Defense Lawyers, says authorities may also use the term as a way to curry cooperation, on the assumption...

Author: /time Magazine | Title: What's a 'Person of Interest'? | 9/17/2009 | See Source »

...authorities know that street demonstrations could easily flare up again, considering that some half-dozen universities crowd Enqelab (Revolution) Boulevard alone, site of a millions-strong silent march in June. But can the students dent the hard-liners' seemingly armored position of power? New York University professor Bruce Bueno de Mesquita, author of a new book, The Predictioneer's Game, that argues that pressure by student demonstrators this summer has already led to concessions by the regime, predicts that the influence of students will rise sharply this month to a level that will rival that of Khamenei's. "That doesn...

Author: /time Magazine | Title: As Students Return, Iran's Regime Braces for More Protests | 9/17/2009 | See Source »

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