The United States has less than 5 percent of the world’s population. But it has almost a quarter of the world’s prisoners.

Prison

The United States has less than 5 percent of the world’s population. But it has almost a quarter of the world’s prisoners.

Indeed, the United States leads the world in producing prisoners, a reflection of a relatively recent and now entirely distinctive American approach to crime and punishment. Americans are locked up for crimes — from writing bad checks to using drugs — that would rarely produce prison sentences in other countries. And in particular they are kept incarcerated far longer than prisoners in other nations.

Criminologists and legal scholars in other industrialized nations say they are mystified and appalled by the number and length of American prison sentences.

The United States has, for instance, 2.3 million criminals behind bars, more than any other nation, according to data maintained by the International Center for Prison Studies at King’s College London.

China, which is four times more populous than the United States, is a distant second, with 1.6 million people in prison. (That number excludes hundreds of thousands of people held in administrative detention, most of them in China’s extrajudicial system of re-education through labor, which often singles out political activists who have not committed crimes.)

San Marino, with a population of about 30,000, is at the end of the long list of 218 countries compiled by the center. It has a single prisoner.

The United States comes in first, too, on a more meaningful list from the prison studies center, the one ranked in order of the incarceration rates. It has 751 people in prison or jail for every 100,000 in population. (If you count only adults, one in 100 Americans is locked up.)


Securities Law – Michaels Stores Wins Motion to Dismiss in Consolidated Federal Securities Class Action

April 2008 – LAWFUEL – Law Firm Newswire – On April 18, 2008, the federal district court dismissed with prejudice all of the lead plaintiff’s claims in a consolidated class action where Jones Day represented Michaels Stores, Inc. and certain of its former officers and directors. The actions were filed by purported former shareholders of Michaels who claimed that the defendants solicited proxy statements by means of materially false or misleading statements in violation of section 14(a) of the Securities Exchange Act of 1934 and S.E.C. Rule 14a-9. Specifically, the lead plaintiff alleged that Michaels’ 2004-2006 proxy statements failed to disclose that, prior to 2001, defendants had back-dated stock option grants and also failed to disclose the full extent of two former directors’ alleged holdings of Michaels stock.

In its order, the court ruled that (1) claims could not stand against those defendants who had left Michaels years before the relevant proxies were issued, (2) allegedly inaccurate statements in Form 10-Ks were not actionable because the proxy statements did not specifically incorporate those Form 10-Ks by reference, and (3) the lead plaintiff failed to plead that the proxy statements were an “essential link” in any purported loss suffered by the class.

The Court stated, “with these claims for proxy fraud, plaintiffs essentially attempt to do through the backdoor what they are barred from doing through the front.”

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