legal 20 final

workers believe in unity theres strength

unions did not violate anitrust laws

transcontinentlal railroad, interstate commerce clause gave railroad workers right to organize, collective bargaining. national mediation board allowed either side to call upon panel of mediators if settlement was troubling-no strike allowed. NMB can tell Prez to allow 60 day cooling off period then a fact finding board finds a solution

encourages all workers to formally organize in workplace and to engage in collective bargaining, outlawed yellow dog contract: upon employment employee signs contract promising not to join/support union

norris-laguardia act, when labor and management agree to have employees be members of union before hired

wagner act, promises the right of every worker to organize and engage in collective bargaining process. farmers, domestic workers and supervisors are exempt. any restraint against an employee to organize/collective bargain or any discrimination for supporting a uion or any refusal to bargain in good faith is unfair by NLRB

5 national commissioners appointed by President and serve for 5 year terms, exercise quasi legislative and quasi judicial powers so they can interpret the intent of congress. if 1/3 of employees sign up the NLRB can interpret if they need to organize

everyone coming back from WWII were asked to join the union and go on strike-negative backlash, outlawed closed shop agreement and replaced it with union shop agreement where a majority of employees vote to join a union, you have 30 days to join. 

reaffirm right to organize but if state choosesto it can enact 14B providing for right to work status: you dont have to join union. agency shop agreement: working in union shop state but dont want to join union instead of paying union dues you pay union fees since you still benefit 

taft-hartley act, union and employer agreed employer would pay for certain services even if they were never performed

taft-hartley injunction, national security is at stake the President or Congress can go into court and ask for an injunction (restraining order against union and forces them into 80 day cooling off period, not allowed to strike and must negotiate a collective bargaining agreement)

provides for the union members bill of rights, greater demands of union disclosure has to be reported to union officials board, every union member can vote in union election and seek office,  union dues and fees cannot increase unless voted on, members cant be expelled for testifying against union

members cant be disciplined unless first charged in writing and afforded time to prepare defense and open hearing (due process), have access to union officials names and addresses, right to know how much union & employer contribute to pension, congress imposes a fiduciary duty (highest degree of faith)

primary concerted activiy: legal, union engages in conduct directed against primary employer with whom the union has a dispute (striking/picketing). secondary concerted activity: illegal attempts to engage in activity directed against 3rd pary neutral employer with whom union has no dispute 

1. board must ask to what extent if at all does there exist any common ownership between two entities 2. to what extent are there common and internal business operations 3. to what extent does one business entity depend upon the other for a substantial portion of business

employer can close down entire business even if because of anti-union and is fair, partial closing may be unfair if union can document that partial closing was to weaken union

occurs where management in anticipation of a strike or work slow down decides to close down entire operation locking out all employees and not permitting them to return to work. controls number of employeees who will be out of work and how long they will be out

unlawful to pay different wages to men and women based on gender where both have had same education and experience. defenses: merit and seniority

employers who employ atleast 15 employees who work atleast 20 work weeks a year, labor unions with atleast 15 members, employment agencies that refer potential candidates to employers covered under title 7, congress included all state and local gov departments

all resident aliens working outside US, all religious orgs and affiliated schools, congress and some federal agencies, native americans as long as on reservation

unlawful to discriminate in workplace on basis of race, color, religion, and amended in 1972, sex

most common, employer treats employee of a particular race, color, sex differently than another, illegal. must prove you are a member of racial minority/protected class, qualified for position but rejected, and after rejection employer seeked out new candidates. once proven the business must prove if discrimination was business oriented

non-intentional discriminatory practice that impacts a class of individuals, rational and well justified but methodically discriminates. physical requirements are okay if extremely justified

attempt to prove based on statistical/circumstantial evidence but that alone may not be enough to prove employer discriminated

first 1980, quid pro quo: demand for sexual favor in return for job retention or raise. hostile work environment: culture is so sexually suggestive/offensive or hostile to the extent that one cant effectively perform job

victim doesnt need to prove psychological harm just that it happened

civil rights act embellished remedies, you can request a trial by jury. previously only in front of judge, entitled to back pay and future earnings, allows you to sue for the loss of enjoyment of earning money. 50,000-300,000

1. merit 2. seniority 3. BonaFide Occupational Qualifications: job description that is so narrowly defined that this job is a business necessity instead of preference

governs all of the initial offer in sale. unlawful to sell or make an offer to sell any security without first engaging in full disclosure. any statement not totally honest/any omission of material fact or misleading statement will give rise to civil and/or criminal sanctions

governs all subsequent sales after initial offer. stocks, bills, evidence of participaton in pension plan. formally creates SEC with jurisdiction over stock/security exchanges. corporations with atleast 500 shareholders must register with SEC, all brokers must file annual financial report with every exchange, corps must file annual reports and periodic/quarterly reports disclosing changes affecting stock

registration statement: goes directly to securities exchange commission for approval and includes names and addresses of shareholders, atleast 5 years going back, financials, goals. prospectus: abbreviated, incomplete version of registration statement and must be given to potential investors

1. prefiling stage: illegal to sell security. 2. waiting period: 20 day SEC review, if missing something deficiency letter. must be approved on or before 20th day 3. post- effective

red herring: offer to sell, an unofficial doc telling about the stock, preliminary version of a prospectus, in red ink. tombstone advertisements: ads in paper, forthcoming. shelf registration: major corps are allowed to file single statment disclosing future financial needs of corp and allows them to issue more stock without registration process

private offerings: limiting number of money invested and number of investors, securities issued by government agency other than SEC (Sallie Mae), treasury notes/bills (US savings bond), nonprofit orgs, stock sold only within state of corporation (interstate sales)

nonmateriality defense: what was left out was not important enough, due diligence: if respondent can prove that registration statement was not prepared and completed with fraud you are free of liability, statute of limitations: any attempt to a criminal action against firm must be commenced between one year of the discovery of misleading statement never later than 3 years and all you have to do is show there is one wrongful statement to sue

key antifraud provision, shall be unlawful to use any artifact, any means of interstate commerce, interstate communication or natural security exchanges to defaud any persons in connection with the purchase of any security. intended to screw client.

insider trading (trading stock or  securities based on nonpublic info) is illegal, insider is anyone who owns atleast 10% of corporate stock/equity or anyone who is a director of corporation. insiders either at time of registration or within 10 days of becoming an insider must file a disclosure statement with SEC indicating amoung of stock you own

section 16b of federal exchange act of 1934, not allowed to buy/sell that stock for 6 months or any gains or losses avoided iwll be held liable and will be subject to recovery by company and other shareholders=short swing profit rule. 

section 16b of federal exchange act of 1934, temporary insiders, someone tipped off by insider as to nonpublic information, law treats tippees the same as insiders but tippees are not required to report it

section 16b of federal exchange act of 1934, any organization or individual having a special working relationship with the inside corporation, that person has a legal, fiduciary duty to treat all nonpublic information as confidential