J.B. HeatonMar 244 minLaw360 Article on $PCGPG&E's Fate May Rest With One Of Its Sharpest Critics By Dorothy Atkins Law360 (March 23, 2020, 9:23 PM EDT) -- U.S. District Judge William Alsup may be the ...
J.B. HeatonMar 204 minThe Social Costs of Dividends and Share RepurchasesBelow is a reprint of an article published in Law360, based on published research available for free download here. Sanders And Schumer (Mostly) Right On Sha...
J.B. HeatonMar 57 minAltman Z-Score Does Not Predict BankruptcyIn this post, I show that the Altman Z-Score does not predict bankruptcy. In a large sample of U.S. publicly traded firms from 2010-2018, the Altman Z-Score ...
J.B. HeatonFeb 207 minWhy Stock Prices Of Insolvent Firms Can Still Be PositiveOn Nov. 29, 2017, Cumulus Media Inc. filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. The stock...
J.B. HeatonFeb 205 minSecurities Litigation Should Not Be Based on Junk ScienceThe fraud-on-the-market presumption has made federal securities litigation a hotbed of junk science about capital market efficiency. This state of affairs tr...
J.B. HeatonFeb 204 minIs the Cost of Equity Greater than the Risk-Free Rate?As a matter of abstract financial-economic theory, the cost of equity is straightforward. It is the minimum expected return investors require to hold the fir...