LAW 6056 - Securities Litigation Enforcem

Institution:

Villanova University

Subject:

Description:

Description: Prerequisite: Completed either Securities Act of 1933 or Securities Act of 1934 This seminar will focus on litigation and enforcement primarily under the federal securities laws - the Securities Act of 1933 and the Securities Exchange Act of 1934 -- with emphasis on private litigation. The course will also consider closely related issues arising under state law historically and in current practice. The course draws on material covered in the basic securities regulation courses, which generally focus on registration and reporting and practice before the SEC (rather than private litigation). Thus, although some of the material covered in this course will have been introduced in the basic securities regulation courses (and even in Business Associations), the focus in this course will be quite different. Specifically, this seminar will cover the express remedies under the 1933 Act and both express and implied remedies under the 1934 Act, with an emphasis on the differing goals of the two acts. With regard to the 1934 Act, the seminar will address securities fraud in connection with open market transactions under Rule 10b-5, insider trading, proxy fraud, and tender offer fraud. We will also consider securities fraud class actions and the implications of the Private Securities Litigation Reform Act (PSLRA) (1995) and the Securities Litigation Uniform Standards Act (SLUSA) (1998) in connection with class actions. With regard to insider trading, we will consider both the Insider Trading Sanctions Act (1984) and the Insider Trading & Securities Fraud Enforcement Act (1988). Finally, we will take a look at securities fraud litigation in connection with face to face transactions, such as broker-customer disputes involving churning and suitability violations. Such cases are almost always handled through arbitration and raise several issues unique to that forum. The course will draw heavily on finance theory, including the efficient capital market hypothesis (ECMH), the capital asset pricing model (CAPM), portfolio theory, and option pricing theory. Students will be required to write a substantial research paper in connection with this seminar. Thus, the seminar will satisfy the research paper requirement. 2.00credit(s) Restrictions: Must be enrolled in one of the following Levels: Law School

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.villanova.edu

Phone Number:

(610) 519-4500

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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