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Articles 1 - 10 of 10
Full-Text Articles in Securities Law
Insider Trading Framework In United States And Egyptian Stock Markets, Elsayed Eldaydamony
Insider Trading Framework In United States And Egyptian Stock Markets, Elsayed Eldaydamony
Maurer Theses and Dissertations
This thesis examines the law of insider trading in both the American and Egyptian legal systems. It seeks to pinpoint the policy rationale behind prohibiting insider trading, the theories of civil enforcement and criminalization, and the concept of tipping in the United States. It also analyzes the express statutory prohibition under Egyptian law. Furthermore, it explains the doctrinal link between securities fraud and insider trading in the U.S. as well as the enforcement mechanisms in place at the SEC, the NYSE, and the NASDAQ. It also surveys the surveillance authority of the Egyptian Financial Regularity Authority and of the Egyptian …
Beyond Dirks: Gratuitous Tipping And Insider Trading, Donna M. Nagy
Beyond Dirks: Gratuitous Tipping And Insider Trading, Donna M. Nagy
Articles by Maurer Faculty
Did an investment banker who gratuitously shared material nonpublic information with his brother, with no expectation of receiving anything in return, commit securities fraud? And is the investment banker's brother-in-law jointly liable for trading securities on the basis of what he knew to be gratuitous tips? The Supreme Court is poised to answer those questions in Salman v. United States, after steering clear of insider trading law for nearly two decades. It has been even longer still since the Court last addressed securities fraud liability relating to stock trading tips-it articulated a "personal benefit" test for joint tipper-tippee liability in …
Remedies For Foreign Investors Under U.S. Federal Securities Law, Hannah Buxbaum
Remedies For Foreign Investors Under U.S. Federal Securities Law, Hannah Buxbaum
Articles by Maurer Faculty
In its 2010 decision in Morrison v. National Australia Bank, the Supreme Court held that the general anti-fraud provision of U.S. securities law applies only to (a) transactions in securities listed on domestic exchanges and (b) domestic transactions in other securities. That decision forecloses the use of the “foreign-cubed” class action, and in general precludes the vast majority of claims that might otherwise have been brought in U.S. court by foreign investors. This article assesses the post-Morrison landscape, addressing the question of remedies in U.S. courts for investors defrauded in foreign transactions. It begins by reviewing the current case law, …
False Forward-Looking Statements And The Pslra's Safe Harbor, Ann Morales Olazabal
False Forward-Looking Statements And The Pslra's Safe Harbor, Ann Morales Olazabal
Indiana Law Journal
Voluntary public disclosure of soft information—corporate projections and predictions and other forward-looking statements—is now the norm, following a brief learning curve after the enactment of the Private Securities Litigation Reform Act’s safe harbor for forward-looking information in 1995. As a consequence, allegations of false forward-looking statements are also quite standard in today’s class action securities fraud pleading. This work addresses an emerging trend, spearheaded by the Seventh Circuit’s decision in Asher v. Baxter International, to introduce a subjective scienter or intent-like inquiry into consideration of the application of the PSLRA’s safe harbor. Numerous district courts have followed Asher’s lead, employing …
Morrison V. National Australia Bank: Defining The Domestic Interest In International Securities Litigation, Hannah Buxbaum
Morrison V. National Australia Bank: Defining The Domestic Interest In International Securities Litigation, Hannah Buxbaum
Articles by Maurer Faculty
This articles uses the lens of the Morrison v. National Australia Bank to look at domestic and international securities regulation.
Personal Jurisdiction Over Foreign Directors In Cross-Border Securities Litigation, Hannah L. Buxbaum
Personal Jurisdiction Over Foreign Directors In Cross-Border Securities Litigation, Hannah L. Buxbaum
Articles by Maurer Faculty
No abstract provided.
Insider Trading And The Gradual Demise Of Fiduciary Principles, Donna M. Nagy
Insider Trading And The Gradual Demise Of Fiduciary Principles, Donna M. Nagy
Articles by Maurer Faculty
Recent SEC enforcement actions, such as the case filed against Dallas Mavericks' owner Mark Cuban, raise the question whether deception by a fiduciary is essential to the Rule 10b-5 insider trading offense. Under the Supreme Court's classical and misappropriation theories, the answer is clearly yes - each theory has a fiduciary principle at its core. Yet lower courts and the SEC frequently disregard the Court's explicit dictates, and a consensus is emerging that insider trading rests simply on the wrongful use of material nonpublic information, regardless of whether a fiduciary-like duty is breached. Although this view of insider trading can …
Securities Analysts: Why These Gatekeepers Abandoned Their Post, David J. Labhart
Securities Analysts: Why These Gatekeepers Abandoned Their Post, David J. Labhart
Indiana Law Journal
No abstract provided.
Judicial Control Of Cash Tender Offers-A Few Practical Recommendations, Ronald W. Oakes
Judicial Control Of Cash Tender Offers-A Few Practical Recommendations, Ronald W. Oakes
Indiana Law Journal
No abstract provided.
Prospectus Liability For Failure To Disclose Post-Effective Developments: A New Duty And Its Implications, Jon S. Readnour
Prospectus Liability For Failure To Disclose Post-Effective Developments: A New Duty And Its Implications, Jon S. Readnour
Indiana Law Journal
No abstract provided.