Manufactured Consent: The Problem of Arbitration Clauses in Corporate Charters and Bylaws
Citation: 104 Geo L.J. 583 (2016)
CommonWealth was a publicly traded real-estate investment trust (REIT) organized under the laws of Maryland. It was founded by Barry Portnoy and a partner in 1986. By 2006, Portnoy and his son, Adam Portnoy, occupied two of the five seats of CommonWealth’s board of trustees, while two of the remaining seats were held by associates of the Portnoys, who also sat on the boards of other Portnoy REITs. The Portnoys also owned and controlled a company called RMR, which CommonWealth’s board hired to manage CommonWealth’s assets. . . .