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Auction-Rate Securities: Bidder's Remorse?
Auction-rate securities are long-term variable-rate instruments with their interest rates reset at periodic and frequent auctions. Recent media coverage has pointed to broker-dealers withdrawing support from this market. In this working paper, NERA Consultant Stephanie Lee argues that the auction-rate market encompasses securities and issuers of varying characteristics, and that an understanding of recent events requires detailed analyses of these characteristics.
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New Thinking on the Role of Fixed Cost Savings in Merger Analysis
In this article from Antitrust Source, NERA Vice President Dr. Robert Rubinovitz presents a new approach to looking at how fixed cost savings achieved through mergers can lead to a decrease in quality-adjusted prices and an increase in consumer welfare.
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4th Conference on Securities Litigation
Class action filings are on the rise, partially fueled by the subprime and credit crises. To examine the latest developments in these cases, IQPC will host this conference in New York City on 28-29 May 2008. Dr. Vinita M. Juneja, Senior Vice President and Chair of NERA's Global Securities and Finance Practice, will chair the conference and participate in a panel discussion exploring recent trends in securities litigation.
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New Book from K&L Gates and NERA Economic Consulting Examines Cutting-Edge Issues in Telecommunications Industry
Co-edited by NERA Vice President Christian M. Dippon and K&L Gates Partner Martin L. Stern, this new book offers thoughtful and practical approaches to some of the most pressing litigation, regulatory, and antitrust matters being debated in courtrooms and agencies around the world. The telecommunications industry never stands still, and this new book is a must-read for those industry participants who wish to stay on top of the latest developments.
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