Securities Litigation, Enforcement, and Compliance

Focuses on Exchange Act Section 10(b)/Rule 10b-5 securities fraud litigation initiated by private plaintiffs, SEC enforcement officials, and DOJ criminal prosecutors, and incorporates important developments since 2017; plus the prevention, detection, investigation, and remediation stages of compliance in the securities industry.

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The Fifth Edition continues the casebook's traditional focus on Exchange Act Section 10(b)/Rule 10b-5 securities fraud litigation initiated by private plaintiffs, SEC enforcement officials, and DOJ criminal prosecutors, and it incorporates important developments since 2017 including the U.S. Supreme Court's decisions in Lorenzo v. SEC (primary liability for securities fraud); Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System (fraud-on-the market and class certification); and Liu v. SEC (court-ordered disgorgement as an equitable remedy in SEC enforcement actions). But in view of the recent emergence of securities compliance as its own distinct and important area of study, the casebook has also expanded its focus to encompass the prevention, detection, investigation, and remediation stages of compliance in the securities industry, with topics including the role of gatekeepers, monetary awards and statutory protections for whistleblowing, corporate internal investigations, deferred prosecution agreements, and requirements under the Foreign Corrupt Practices Act and federal anti-money laundering statutes.