Volume 95 - No. 1 Supplement

In the Shadow of the Omnipresent Claw

In this Response to Clawbacks: Prospective Contract Measures in an Era of Execessive Executive Compensation and Ponzi Schemes, Professor Macchiarola challenges the doctrine of clawbacks proposed by Professors Cherry and Wong. Professor Macchiarola argues that the latent subjectivity of the clawback doctrine limits its efficacy and also outlines additional practical difficulties to implementing clawbacks. Professor Macchiarola concludes arguing that clawbacks are not necessarily a solution but could rather add another layer of cost and complexity in the form of uncertainty, unpredictability, and discontinuity.

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