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 "text": "Under Blasius, LER should function as a last-resort tool justified by evidence of severe harm to the corporation, such as an activist's documented history of value destruction, so that courts can test whether less restrictive alternatives existed.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
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 "citation": "Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610",
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  "name": "Liquid Equity Rewards in Corporate America",
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 "abstract": "LER deployment must be justified by evidence of severe harm to the corporation. Examples may include an activist's history of value destruction. LER should be a last-resort tool, allowing courts to scrutinize if less restrictive alternatives exist.",
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