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March 17, 2006

Press Contact:
Allegra Young, UT Law, (512) 471-7330.

Hedge Fund Voting Paper by Professors Henry Hu and Bernard Black Discussed in Corporate Control Alert

AUSTIN, Texas—Two professors at The University of Texas School of Law, Henry Hu and Bernard Black, were featured in an article in the March/April issue of Corporate Control Alert. "Hedge fund voting: The devil we don't know," was written by David Marcus and discusses the professors' paper, "Hedge Funds, Insiders, and Decoupling of Economic and Voting Ownership in Public Companies," which will run in the May issue of the Southern California Law Review. Marcus notes that this article is "the first thorough academic analysis" of what Professors Hu and Black call the "new vote buying," a phenomenon that is now affecting corporate governance throughout the world.

The Corporate Control Alert article is available in pdf format here: http://www.utexas.edu/law/news/2006/hedge_fund_voting.pdf.

The Southern California Law Review paper is downloadable at: http://ssrn.com/abstract=874098.

Henry T. C. Hu holds the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas School of Law and is recognized in international financial circles for his groundbreaking research on the law and economics of derivatives and of corporate governance. Hu teaches, among other things, corporate law and securities regulation. Hu was chair of the Association of American Law Schools’ Business Associations section in 1996. During 1997-98, he taught at Harvard Law School as the Bruce W. Nichols Visiting Professor. In March 2000, he was appointed to the National Association of Securities Dealers’ Legal Advisory Board and in January 2001, to NASD Regulation’s e-Brokerage Committee. He is a member of the American Law Institute.

Bernard S. Black holds the Hayden W. Head Regents Chair for Faculty Excellence at The University of Texas School of Law, is professor of finance at UT's McCombs School of Business, and managing director of the Legal Scholarship Network. Before coming to Texas, he was professor at Stanford Law School (1998-2004) and Columbia Law School (1988-1998). He has been an advisor on company law, securities law, and corporate governance in Armenia, Brazil Indonesia, Korea, Mongolia, Russia, Ukraine, and Vietnam.

Related Links:
About Professor Hu: http://www.utexas.edu/law/faculty/huht/
About Professor Black: http://www.utexas.edu/law/faculty/bsb345/