John Coates

The Israeli pharmaceutical company Teva was quick to cut its losses yesterday after U.S. Magistrate Judge Lisa Lenihan of Pittsburgh recommended a preliminary injunction barring Kirkland & Ellis from continuing to advise Teva in its hostile bid for Mylan, an occasional Kirkland client since 2013. Kirkland announced that it will file an objection to Judge Lenihan’s recommendation, which will be reviewed by U.S. Chief District Judge Joy Conti, but in the meantime, Teva hired Sullivan & Cromwell to replace the firm in the Mylan takeover battle....In an expert report for Mylan that Judge Lenihan ultimately considered very persuasive, Harvard Law professor John Coates argued that virtually all previous litigation could be considered related to an unsolicited bid because so many factors shape the hostile takeover process.

Everything about Berry Bros. and Rudd's showroom in St James’s Street, London, suggests tradition. The walls are panelled in dark oak. Leather-bound volumes record “the weights of customers of this establishment” from 1765 onwards, sitting alongside a set of weights from a time when the shop sold coffee rather than alcohol. Simon Berry represents the 7th generation of Berrys to run the company, and he looks the part. ... John Coates and Reiner Kraakman, of Harvard Law School, who studied the tenure of CEOs in the Standard & Poor’s 500 in 1992-2004, found that those who held more than 1% of the stock (which includes family firms) were at the helm for an average of 13.4 years, compared with 5.5 years for other companies.

Dean of Harvard Law School Martha L. Minow has appointed a Title IX committee to begin implementing the school’s new set of procedures for responding to cases of alleged sexual harassment, according to Law School spokesperson Robb London...After a group of 28 professors published an open letter in the Boston Globe that criticized Harvard’s policy in October, Minow appointed a committee, chaired by Law School professor John Coates, to draft a new set of school-specific procedures.

When the D.C. Circuit Court of Appeals ruled that POM Wonderful was overstating pomegranate juice's health benefits in its advertisements, a press release from the FTC, which was challenging POM in court, called the decision “a victory for consumers.” The Wall Street Journal agreed, describing it as “a notable win.” In a sense, it was: The company was banned from trumpeting its juice as an elixir that could help prevent heart disease, prostate cancer, and erectile dysfunction if there wasn't sufficient research done to back up those claims. But in another sense, the decision wasn’t a victory at all. Buried in the FTC’s press release was the reluctant acknowledgement that the Circuit Court denied the FTC the ability to require that POM base its advertising on at least two randomized, well-controlled clinical trials... To arrive at this decision, the Court wasn’t relying on some obscure bit of corporate law; it was relying on the First Amendment. How problematic is it that a company selling at least $100 million worth of juice every year based on sketchy empiricism could defend its preposterous advertising claims in court on free-speech grounds, and still be humored? That’s one question that John Coates, a professor at Harvard Law School and a former corporate lawyer, explores in a recent survey of what he calls “the corporate takeover of the First Amendment.” According to Coates, companies are now the beneficiaries of cases involving the First Amendment just as often as individuals, and the frequency of those cases has been rising since the mid-70s.

A recent study claims that "corporations have begun to displace individuals as direct beneficiaries of the First Amendment." Its author [John Coates] joins HuffPost Live to discuss his findings and explain what they mean for free speech.

Liberals used to love the First Amendment. But that was in an era when courts used it mostly to protect powerless people like civil rights activists and war protesters. These days, a provocative new study says, there has been a “corporate takeover of the First Amendment.” The assertion is backed by data, and it comes from an unlikely source: John C. Coates IV, who teaches business law at Harvard and used to be a partner at Wachtell, Lipton, Rosen & Katz, the prominent corporate law firm. “Corporations have begun to displace individuals as the direct beneficiaries of the First Amendment,” Professor Coates wrote. The trend, he added, is “recent but accelerating.” Professor Coates’s study was only partly concerned with the Supreme Court’s recent decisions amplifying the role of money in politics. “It’s not just Citizens United,” he said in an interview, referring to the 2010 decision that allowed unlimited independent spending by corporations in elections. His study, he said, analyzed First Amendment challenges from businesses to an array of economic regulations...In a recent essay, Laurence H. Tribe, a law professor at Harvard, offered a cautious partial defense of the Citizens United decision. But he said it was an instance of a larger phenomenon. “It is part of a trend in First Amendment law that is transforming that body of doctrine into a charter of largely untrammeled libertarianism,” he wrote, “in which the regulation of virtually all forms of speech and all kinds of speakers is treated with the same heavy dose of judicial skepticism, with exceptions perversely calculated to expose particularly vulnerable and valuable sorts of expression to unconvincingly justified suppression.”

An article by John C. Coates, Jesse M. Fried, and Kathryn E. Spier. An online survey of 124 practicing attorneys at major law firms suggests possible new directions for educating and training Harvard Law School students. The most salient result from the survey is that students should learn accounting and financial statement analysis, as well as corporate finance. These two subject areas are viewed as particularly valuable both for lawyers in litigation and lawyers working in corporate/transactional practice areas.

When a faculty committee at Harvard Law School convened to craft a new set of sexual harassment procedures for the school last fall, they examined existing processes at peer institutions, according to Law professor John Coates, who chaired the committee. The final product of their work closely resembles systems in place at other schools across the Ivy League, particularly Columbia. The Law School’s new Title IX procedures, which break from Harvard’s central process for adjudicating sexual harassment complaints filed against students, were adopted by the Law faculty in December and will be soon implemented, according to administrators.

Twenty Harvard Law School professors who had publicly spoken out against Harvard’s University-wide sexual harassment policy submitted a memo last fall requesting that the Law School investigate its own sexual harassment cases, rather than go through Harvard’s central investigation office...The document, parts of which signatory and Law School professor Elizabeth Bartholet shared with The Crimson this week, sheds light on the process that led to the adoption of the local procedures that, if implemented, in many respects will circumvent Harvard’s newly centralized approach to handling sexual misconduct...Law School professor John Coates, who chaired the committee that wrote the school’s new procedures, confirmed in an email that the committee considered the memo’s principles when it drafted the procedures.

A group of 170 Brooklyn Law School students cut short their winter break and headed back to campus in January for an intensive three-day training session. But not in the law. Instead, they spent the “boot camp” sessions learning about accounting principles, reading financial statements, valuing assets and other basics of the business world — subjects that not long ago were thought to have no place in classic law school education...Last year, Cornell University Law School started a similar business-focused workshop, called “Business Concepts for Lawyers.” The idea came from a Harvard Law School survey of employers released in February 2014, said Lynn A. Stout, a professor of corporate and business law at Cornell. The 124 firms that responded to the survey, called “What Courses Should Law Students Take? Harvard’s Largest Employers Weigh In,” listed accounting, financial statement analysis and corporate finance as the best courses to prepare lawyers to handle corporate and other business matters.

Statistics released by the Social Science Research Network (SSRN) indicate that, as of the end of 2014, Harvard Law School faculty members featured prominently on SSRN’s list of the 100 most-cited law professors.

The insurance company MetLife is unhappy that it has been added to the list of firms that get special attention from regulators for being too big, or too interconnected, to fail. It appears to want to fight the designation by arguing that the government has not provided the numbers supporting its analysis, and that this failure to do the math makes the designation unreasonable, and, therefore, illegal....In short, the government did not use math to defend its designation. Should it be required to do so? Cass Sunstein, President Obama’s first regulatory czar and now a law professor at Harvard, has said he believes that agencies should make the quantitative case whenever possible. Another Harvard Law professor, John Coates, on the other hand, argues that the assumptions involved in assessing the costs and benefits of financial regulation look too much like ever-changing guesstimates.

In a rare public exchange in June 2011, Jamie Dimon asked then Federal Reserve Board Chairman Ben Bernanke what the total economic costs of the year-old Dodd-Frank Act would be…As the regulatory reform law turns four on July 21, Dimon's question remains unanswered, despite being a recurring concern raised by the financial industry and many Republican lawmakers…"A cost-benefit analysis is an important element of decision-making," said Parkinson. "But as a practical matter, it's hard to quantify the benefits and it's hard to quantify the costs. Often the analysis doesn't provide as much insight as you'd like." Two papers by Jeffrey Gordon, a law professor at Columbia University and John Coates, a law and economics professor at Harvard University, also strongly support that claim.

Along rows of cubicles at the General Motors Technical Center in suburban Warren, engineers knew for years about faulty ignition switches in small cars. Safety officials in the same complex knew, too. So did the lawyers downtown...But John Coates, a professor at Harvard Law School, says often the only way to get investigation results quickly is to hire a lawyer who is familiar with the company. Corporate investigations don't always conform to the company's strategy, he says. Investigations happen more often now, creating a lucrative business line for law firms. If a firm finds no criminal wrongdoing, but it comes out later, "it is their personal reputation at stake," Coates says.